It’s been over a month since the Washington Mutual fraud case was first reported here at KSRW, but so far there have been no arrests made. When we contacted the Bakersfield branch of the FBI in April, the agent we spoke to said that it could be weeks to months before they make an arrest.
Just to make sure that the FBI was still working on the case, we gave them a call. The agent we spoke to explained that it was FBI policy not to talk about pending investigations until they file charges, but he did emphatically confirm that the FBI was still actively investigating this case.
How much money was allegedly taken from WAMU accounts is not yet certain, but initial reports indicated that the number could approach a half million dollars. More recent reports indicate that the amount of money under investigation could be closer to $760,000. The FBI wouldn’t confirm this amount, but the agent did say that he could see why this case would be big news in a small town as well as more populated areas.
In the past, FBI agents we spoke to said that the federal government doesn’t investigate unless a very significant quantity of money is involved. The FBI also would not say when or even if they would make arrests in this case.