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It's old hat that Allied Capital (ALD) has been in the cross hairs of regulators. As the company has stated in numerous SEC filings, it was notified in June 2004 by the SEC that the SEC was conducting an informal investigation of the company.

On December 22, 2004, the company said it received letters from the U.S. Attorney for the District of Columbia requesting that records of Allied's Business Loan Express unit be preserved in connection with a criminal investigation. The investigation, the company said, related to "portfolio valuation" and Business Loan express.

Now hear this: In its latest 10-Q the company added further disclosure to say that the Office of the Inspector General of the SBA and the Justice Department "have been conducting investigations into the lending activities of Business Loan Express and its Detroit office.

The beat goes on...

Source: Allied: More Investigations Underway?