[classicman]

NEW YORK (Reuters) - The FBI and other U.S. agencies are working to prevent fraud and corruption related to government bailout money and the economic stimulus package, in what could be the "next wave" of cases in the financial crisis, FBI Director Robert Mueller said on Tuesday.

Mueller said in a speech to the Economic Club of New York that the FBI, U.S. Securities and Exchange Commission and the inspector general of the Troubled Asset Relief Program were working to track where federal money is going.

"With billions of dollars at stake -- from the purchase of troubled assets to improvements in infrastructure, healthcare, energy and education -- even a small percentage of fraud would result in substantial taxpayer losses," Mueller said.

Mueller added: "We and our counterparts in other agencies are working to prevent what has the potential to be the next wave of cases: fraud and corruption related to the TARP funds and the stimulus package."

He also said the agency was shifting resources in New York to combat white-collar crime.

Mueller told the luncheon gathering that the agency had 1,300 securities fraud cases, including many Ponzi schemes. The FBI was investigating more than 580 corporate fraud cases, he said.

This should keep them busy for awhile.