Quantcast


Last updated: August 06. 2013 4:41PM - 383 Views
Associated Press



Story Tools:

Font Size:

Social Media:

(AP) The U.S. government has accused Bank of America Corp. of civil fraud, saying the company failed to disclose risks and mislead investors in its sale of $850 million of mortgage bonds during 2008.


The Justice Department filed a civil suit against the bank and two of its subsidiaries on Tuesday. The Securities and Exchange Commission filed a related suit against Bank of America.


The authorities say Bank of America lied to investors about the risk of the mortgages underlying the investment.


Bank of America disputed the allegations.


Associated Press
Comments
All user comments are subject to our Terms of Service. Users may flag inappropriate comments.
comments powered by Disqus



Featured Businesses


Poll



Info Minute



Gas Prices

Wilkes-Barre Gas Prices provided by GasBuddy.com