SEC charges Citigroup $285M with misleading investors about mortgage-backed CDO; Credit Suisse sanctioned.

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SEC charges Citigroup $285M with misleading investors about mortgage-backed CDO; Credit Suisse sanctioned.

SEC charges Citigroup $285M with misleading investors about mortgage-backed CDO; Credit Suisse sanctioned.

Something new every s-i-n-g-l-e day…

 

Businessweek-

Oct. 19 (Bloomberg) — Citigroup Inc. has agreed to pay close to $300 million to resolve U.S. Securities and Exchange Commission claims that it misled investors about a financial product linked to risky mortgages, according to a person with direct knowledge of the matter.

The settlement is subject to approval by the SEC commissioners, who were scheduled to vote on it today, the person said, declining to be identified because the matter isn’t public. One Citigroup executive and an employee from another firm involved in the deal are also named in the SEC’s claims, according to the person.

[BUSINESSWEEK]

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One Response to “SEC charges Citigroup $285M with misleading investors about mortgage-backed CDO; Credit Suisse sanctioned.”

  1. doug trantham says:

    GOOD ! TO BAD IT WASN’T 300 BILLION !

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