Wall Street has good reasons to fear Preet Bharara. This top Manhattan federal prosecutor made a name for himself prosecuting high profile financial crimes.
Reuters reported Wednesday afternoon that Manhattan’s top financial crime federal prosecutor Preet Bharara has agreed continue serving under Trump administration.
According to the Reuters report :
Preet Bharara, the top federal prosecutor in Manhattan known for pursuing a series of cases targeting public corruption and crime on Wall Street, said on Wednesday he has agreed to remain in his post after Donald Trump becomes U.S. president.
“We had a good meeting,” Bharara said. “I said I would absolutely consider staying on. I agreed to stay on.”
The announcement’s timing, when Trump has not yet finished filling all Cabinet-level positions, was unusual. But some former prosecutors who served under Bharara said they were not surprised their former boss would be willing to remain as the U.S. Attorney for the Southern District of New York.
Bharara’s office has pursued an aggressive push against corruption in state and city politics, an agenda that could fit with Trump’s vow to “drain the swamp” in Washington.
Those political investigations led last year to the convictions of former New York Assembly Speaker Sheldon Silver, a Democrat, and former New York Senate Majority Leader Dean Skelos, a Republican, in separate corruption trials.
Bharara also brought dozens of successful cases against insider traders and was on the cover of Time magazine in 2012 with the headline “This man is busting Wall St.”
His 227-lawyer office also secured corporate settlements with companies including General Motors Co and JPMorgan Chase & Co; won several convictions and guilty pleas of former employees of Ponzi scheme operator Bernard Madoff; and prosecuted Suleiman Abu Ghaith, a son-in-law of the late al Qaeda leader Osama bin Laden.
Bharara said his office had for the past seven years pursued its work “independently, without fear or favor.” Former prosecutors they expect that to stay the same.