"It's essential that we have a similar level of anti-fraud laws," he said.

And this week its Stotler Funds Inc. unit was charged by the Commodity Futures Trading Commission with violating anti-fraud laws by effectively making loans to its parent firm.

Several Bordeaux chateau owners maintained that the charges against Giscours were an indication that the anti-fraud laws worked.

The fact that Congress did not foresee RICO's potential as an anti-fraud law as well as an anti-racketeering law is no reason to question its wisdom.

Among those proposals were provisions that would have eliminated licensing of investment advisers, loosened disclosure requirements for corporate-takeover moves, and prohibited states from enforcing some of their anti-fraud laws.

Organizations representing home care agencies, nursing homes and suppliers of medical equipment, among others, have pressed Congress for changes in the anti-fraud laws, which they describe as vague and overreaching.

Cascioli said the statement was an "abuse of popular belief", and brought the lawsuit against Righi under an Italian anti-fraud law.

Congress recently provided financial incentives for states to adopt anti-fraud laws modeled on the False Claims Act.

On September 4, 2003, a major investment bank, Goldman Sachs, admitted that it had violated anti-fraud laws.

Too often, we've seen Wall Street firms violating major anti-fraud laws because the penalties are too weak and there's no price for being a repeat offender.