Bank of America reaches $137 million settlement with SEC

[JURIST] The US Securities and Exchange Commission (SEC) [official website] announced Tuesday that it had reached a $137 million settlement agreement [press release] with Bank of America (BOA) [corporate website] over fraud charges [order, PDF] for using anti-competitive bidding processes with 20 state municipalities. BOA has agreed to pay [press release] $36 million, including interest, to the parties harmed by the scheme, as well as $101 million in penalties to federal and state authorities. The order against BOA alleges that…

By | 2010-12-23T13:04:11+00:00 December 23rd, 2010|Uncategorized|0 Comments

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