what is the statute of limitation on financial fraud
For more than four years, authorities have struggled to successfully prosecute a Wall Street bank or its executives for alleged misconduct during the financial crisis. Now, time may be running out. Under federal securities law, the statute of limitations in fraud cases normally lasts five years. Given that the bulk of the mortgage-related securities that precipitated the crisis were created in 2006 and 2007, the window of opportunity for authorities to bring new charges is rapidly closing.