Business

Justice’s consumer unit recovered $5.89b

WASHINGTON — The Justice Department’s consumer protection initiatives have recovered more than $5.89 billion since 2009 and have led to more than 140 criminal convictions and prison sentences of more than 327 years.

The department’s civil division released the figures Friday at a meeting of more than two dozen state and federal agencies focused on combatting fraud against consumers.

Advertisement

The department’s Consumer Protection Branch last year recovered $1.9 billion in criminal fines and other financial penalties against companies that allegedly misbranded pharmaceuticals, sold unsafe products and resold prescription drugs that had been diverted from lawful channels.

The Consumer Protection Branch played an important role in bringing a lawsuit against credit rating agency Standard & Poor’s for allegedly scheming to defraud investors in residential mortgage-backed securities.

Associated Press

Loading comments...
Real journalists. Real journalism. Subscribe to The Boston Globe today.
We hope you've enjoyed your free articles.
Continue reading by subscribing to Globe.com for just 99¢.
 Already a member? Log in Home
Subscriber Log In

We hope you've enjoyed your 5 free articles'

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week
Marketing image of BostonGlobe.com
Marketing image of BostonGlobe.com