Where Will Eliot Spitzer Strike Next?

New York's crusading attorney general isn't done with mutual funds -- or with the rest of the financial-services industry

By now it sounds almost old hat. New York Attorney General Eliot Spitzer, in his latest move on Feb. 24, charged FleetBoston (FBF ) Financial's mutual-fund unit with "engaging in a massive mutual-fund-trading scheme." Although the civil suit was filed by the Securities & Exchange Commission, it was Spitzer who basked in the headlines. "Spitzer once again leads the charge against corporate fraud," says Anthony M. Sabino, law professor at St. John's University. "He has attacked the fund industry with a vengeance, and he's far from finished."

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