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Inside the securities-fraud sting
Thursday June 15 by Claudia bourne
At 6 a.m. Wednesday morning, New York's five controlling Mob families got a wake-up call, authorities say. More than 600 FBI agents started arresting 120 suspects across the country, including 11 people connected to the organized crime families, in the largest securities fraud takedown in history, authorities said. They say the 10-month undercover operation, code-named Uptick, is the biggest dent they have put on the spread of the Mob on Wall Street. The extent of the Mob's alleged reach became clear in indictments unsealed Wednesday. The charges include threats, extortion, physical intimidation and solicitation to commit murder. The schemes are said to have resulted in total losses of more than $50 million.
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