On July 20, 1992, more than 900 people in the United States were convicted in connection with a financial scandal.

The U.S. Department of Justice announced on July 20, 1992 that as of then, a total of 905 people in the United States had recently been convicted of suspected savings and loan fraud cases.

According to statistics from the U.S. Department of Justice, among the 750 cases handled, the amount of money that has been sentenced to be repaid reaches US$439 million, and the total amount of fines imposed on parties suspected in these cases is US$12 million.

These scandals, which were first made public four years ago, once triggered a crisis in the U.S. financial community. According to statistics, these savings and loan fraud cases will waste U.S. taxpayers about $500 billion over the next 40 years.

From October 1, 1988 to June 30, 1992, the Department of Justice indicted 1,188 people in connection with these cases, including 137 managers, chairpeople, and heads of savings and loan institutions. Nearly 100 managers or presidents have been convicted. Of all those convicted, 582 will go to prison.