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 78 individuals, including 55 senior officers

- Criminal convictions of 50 individuals, of whom 23 have been sentenced to prison (others are awaiting sentencing)

- Civil charges filed against 51 individuals and 25 companies

- Restitution orders entered for $3.6B, forfeiture orders for $126.8M, and civil judgments for $165M

* As of 4/12/12 [1] [2] [3] [4] [5] [6]
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

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Quarterly Report Highlights*
- $414.6 billion - Amount spent under TARP

- $50.2 billion – Amount available to be spent under TARP

- $118.5 billion - Amount still owed to taxpayers under TARP

- $68 billion, $32 billion, $70 billion - Estimated cost of TARP as projected by OMB, CBO, and Treasury, respectively

- View the full report

*As of 3/31/12

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TARP & SBLF: Impact on Community Banks
- 137 banks refinanced out of TARP and into SBLF.

- SBLF culled a large number of healthier community banks from TARP, leaving less-healthy banks in TARP that had less capital, had missed dividends, or in many cases, were subject to enforcement actions by their federal banking regulators.

- A paramount challenge for the banks that remain in TARP is access to new capital to replace TARP funds.

- View the full report

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Va. Real Estate Manager Pleads Guilty to Bank Fraud Conspiracy

- WASHINGTON, DC – Recardo Lewis, a real estate project manager from Norfolk, Va., pled guilty on May 14 in Norfolk federal court to conspiring with others to defraud now-defunct Bank of the Commonwealth by submitting fraudulent draws on a multi-million dollar construction project in Virginia Beach, Va.

- View this press release in its entirety

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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.

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