us sues bank of america for fraud over mortgage bonds
Last Updated : GMT 05:17:37
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Last Updated : GMT 05:17:37
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US sues Bank of America for fraud over mortgage bonds

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Emiratesvoice, emirates voice US sues Bank of America for fraud over mortgage bonds

Arab Today

The US Tuesday filed suit against Bank of America for defrauding investors over the sale of $850 million in mortgage-backed securities ahead of the housing bust. The Department of Justice civil complaint alleges Bank of America lied to investors about the riskiness of the mortgage loans backing the securities, and intentionally avoided performing adequate due diligence on the mortgages, leading to investor losses surpassing $100 million.

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us sues bank of america for fraud over mortgage bonds us sues bank of america for fraud over mortgage bonds

 



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us sues bank of america for fraud over mortgage bonds us sues bank of america for fraud over mortgage bonds

 



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