ARMED WITH a slew of statistics, Matthew Friedrich, the Justice Department’s No. 2 official in its Criminal Division, went before the Senate Judiciary Committee late last month to tout the federal crackdown on corporate fraud and address concerns about integrity in the hedge fund industry.
By any measure, the numbers Friedrich presented were impressive. Over the past four years the department’s Corporate Fraud Task Force had won the convictions of 92 corporate presidents, 82 chief executive officers and 40 chief financial officers.
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