The Statute of Limitations Is Longer Now, Bharara Warns Wrongdoers

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The Statute of Limitations Is Longer Now, Bharara Warns Wrongdoers

The Statute of Limitations Is Longer Now, Bharara Warns Wrongdoers

NYT-

The top federal prosecutor in Manhattan has a message for financial wrongdoers: Don’t try to run out the clock.

Thanks to the Dodd-Frank Act, which turns three years old this month, prosecutors have more time to bring charges in securities fraud cases. The statute of limitations was increased to six years from five, Preet Bharara, the United States attorney for the Southern District of New York, noted at a conference in Manhattan on Wednesday.

“People shouldn’t be waiting for time to run out. That’s not a good way to behave,” Mr. Bharara said at the Delivering Alpha conference, which is hosted by CNBC and Institutional Investor. “I don’t even wear a watch.”

[NEW YORK TIMES]

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