Welcome to SIGTARP

The Office of the Special Inspector General for the Troubled Asset Relief Program (SIGTARP), a sophisticated, white-collar law enforcement agency, was established by Congress in 2008 to prevent fraud, waste, and abuse linked to the $700 billion Troubled Asset Relief Program (TARP).

A watchdog for American taxpayers, SIGTARP conducts criminal and civil investigations related to TARP, audits how TARP assets are managed, and recommends ways to improve the program.

SIGTARP Investigative Outcomes* – Criminal charges filed against 119 individuals, including 82 senior officers

– Criminal convictions of 83 defendants, of whom 35 have been sentenced to prison (others are awaiting sentencing)

– Civil charges filed against 58 individuals and 47 companies

– Restitution orders entered for $3.7B, forfeiture orders for $170.4M, and civil judgments for $281.9M

* As of 1/10/13 [1] [2] [3] [4] [5] [6] [7]
HAMP Mortgage Modification Scams – Beware of HAMP mortgage modification scams.

– Mortgage modification scams have become all too prevalent, and SIGTARP has formed a taskforce to raise awareness of the scams.

– An application to the federal Home Affordable Modification Program is free.

– View tips to avoid mortgage mod scams [1] [2] [3] [4] [5] [6] [7]
Quarterly Report Highlights*
– $418.1 billion – Amount spent under TARP

– $40.5 billion – Amount available to be spent under TARP

– $67.3 billion – Amount still owed to taxpayers under TARP

– $63.5 billion, $24 billion, $59.7 billion – Estimated cost of TARP as projected by OMB, CBO, and Treasury, respectively

– View the full report

*As of 12/31/12 [1] [2] [3] [4] [5] [6] [7]
Treasury Continues Approving Excessive Pay for Top Executives at Bailed-Out Companies

– In 2012, Treasury failed to rein in excessive pay at bailed-out companies.

– In order to be effective, guidelines aimed at curbing excessive pay require robust policies, procedures, or criteria to ensure that pay guidelines are met.

– View the full report

[1] [2] [3] [4] [5] [6] [7]
Chairman of Debt Collection Agency Sentenced to Five Years in Prison for $12M Fraud Scheme and TARP Bank Fraud

– Richard Pinto, former Chairman of the Board at Oxford Collection Agency, was sentenced to five years in federal prison for his role in a $12 million scheme at the firm and for defrauding TARP recipient Webster Bank.

– View this press release in its entirety

[1] [2] [3] [4] [5] [6] [7]
Report TARP Abuse To report fraud, waste, and abuse of taxpayer funds related to TARP, contact the SIGTARP Hotline!

Phone: 1-877-SIG-2009 (1-877-744-2009)

Report TARP abuse with our online submission form

Whistleblower protections apply. [1] [2] [3] [4] [5] [6] [7]
HAMP Mortgage Modification Scams – Beware HAMP mortgage modification scams.

– Mortgage modification scams have been found to specifically target members of the Armed Services community

– An application to the federal Home Affordable Modification Program is free.

– View tips to avoid scams

– View resources for members of the Armed Services Community [1] [2] [3] [4] [5] [6] [7]