What is a Federal Grand Jury "target letter". Why and when would a target of a Federal Grand Jury receive one. Does this mean a person who received such letter is likly to get indicted?

Federal grand juries conduct investigations into possible violations of federal criminal law. They have the power to subpoena witnesses to appear before them to testify and produce information. The Department of Justice has developed special policies when the witness sought to be subpoenaed is either a "target" or a "subject" of the grand jury investigation. These specific policies are contained in Section 9-11.150, et. seq. of the United States Attorneys'' Manual. A "target" of a grand jury investigation is defined as a person as to whom the prosecutor or grand jury has substantial evidence linking him or her to a crime, and who, in the judgment of the prosecutor, is likely to become a defendant--i.e., to be indicted. A "subject" of a grand jury investigation is a person whose conduct is within the scope of the grand jury''s investigation. Due to the potential for unfairness and misunderstanding in compelling a target (a person who is likely to be indicted) to testify or produce documents before a grand jury, prosecutors are directed to first attempt to secure the target''s appearance voluntarily. If the target refuses to voluntarily appear, before the target can be issued a subpoena, the prosecutor must obtain the approval of the grand jury and the United States Attorney or the responsible Assistant Attorney General. In determining whether to subpoena a target, the officials involved should consider the importance of the testimony or information sought to the investigation, whether the substance of the testimony or information could be obtained from other witnesses, and whether the questions that the prosecutors and grand jurors intend to ask would be subject to a valid claim of privilege. If approval is obtained to subpoena a target of a grand jury investigation, it is the policy of the Department of Justice to advise the witness of his or her rights. Subjects of the grand jury investigation are also receive advisements of rights. This is done either by attaching an "advise of rights" form to the subpoena, or in a letter that accompanies the subpoena. In the case of a witness who is a target or subject of the investigation, the following advice is provided: Advice of Rights. The grand jury is conducting an investigation of possible violations of Federal criminal laws involving: (State here the general subject matter of inquiry, e.g., conducting an illegal gambling business in violation of 18 U.S.C. Section 1955). You may refuse to answer any question if a truthful answer to the question would tend to incriminate you. Anything that you do say may be used against you by the grand jury or in a subsequent legal proceeding. If you have retained counsel, the grand jury will permit you a reasonable opportunity to step outside the grand jury room to consult with counsel if you so desire. An additional advisement is provided to targets that their conduct is being investigated for possible violation of Federal criminal law.