Even as the remains of Washington Mutual are folded into the operations of JPMorgan Chase, the U.S. attorney’s office of the western district of Washington is leading a multi-agency investigation of the bank’s demise. Investigators from the FBI, Federal Deposit Insurance Corp.’s Office of Inspector General, Securities and Exchange Commission, and IRS are teaming up. In a poignant and stern statement, U.S. Attorney Jeffrey C. Sullivan notes: “For more than 100 years Washington Mutual was a highly regarded financial institution headquartered in Seattle. Given the significant losses to investors, employees, and our community, it is fully appropriate that scrutinize the activities of the bank, its leaders, and others to determine if any federal laws were violated.”
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