Yesterday, Manhattan District Attorney Cyrus R. Vance, Jr. announced the creation of the Major Economic Crimes Bureau for the purpose of combating complex economic crimes. The Major Economic Crimes Bureau will combine the Frauds Bureau, which has been responsible for white-color crime enforcement since 1938, with attorneys from the Investigation Division Central and will be responsible for all manner of complex financial investigations, including securities, commodities and investment fraud, mortgage fraud and financial institution fraud and commercial bribery and kickbacks. Vance named Richard Weber, the current Chief of the Asset Forfeiture and Money Laundering Section of the U.S. Department of Justice, to serve as Chief of the Bureau and as Deputy Chief of the Investigation Division. In an interview yesterday, Vance was quoted as saying that “there is a greater need than ever … to be vigilant and competent in prosecuting complex fraud cases” and that he was “pleased to be able to focus the resources of the Office under the Major Economic Crimes Bureau [to] continue and expand [the] battle against those who commit major economic frauds.” Vance replaced Robert Morgenthau as District Attorney on January 1, 2010.