American Fishermen Caught in Net of Regulations

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Fish Hook with Hundred Dollar Bill
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By Chief Investigative Correspondent Armen Keteyian and Producer Laura Strickler

(CBSNews) For 37 years the waters off the coast of Mass. were a way of life for fishermen Bill Lee. Then, without warning - it all changed.

"NOAA took a career that I enjoyed and put me out of business," Lee said. "And laughed all the way to the bank."

CBS News chief investigative correspondent Armen Keteyian reports in 2009 NOAA fined Lee $19,000 for catching about 20 extra codfish - nearly three years after he caught them.

Read the full report.

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