FBI Investigates Possible Loan Fraud

The Federal Bureau of Investigation said it is investigating 14 companies for possible fraud or insider trading violations in connection with loans made to risky borrowers, and investments spun off of those loans. Agency officials did not identify the companies under investigation but said the wide ranging probe, which began in Spring 2007, is ongoing and involves companies across the industry, from mortgage lenders to financial firms that bundle home loans into securities sold to investors.

Israeli Police Swoop Down in Prime Minister Probe

Israeli police have raided 20 locations in connection with investigations of corruptions of Prime Minister Ehud Olmert. The trade and industry ministry and the headquarters of the national post office were among the places searched. The Prime Minister is the subject of three investigations, but denies any wrong doing.