The New York attorney general’s office recovered $2.38 billion from investigations and settlements for consumers, investors and the state, according to Reuters.
Spearheading the campaign, New York Attorney General Eliot Spitzer said this is a 37% increase from $1.74 billion in 2003. Spitzer, a 2006 Democratic gubernatorial candidate in New York, has changed long-standing practices in areas such as mutual fund trading, insurance, and Wall Street stock research, according to Reuters. Probes into Wall Street and other financial institutions garnered more than $1 billion. Tobacco-related recoveries netted $802 million for state and local governments.