SEC fines Citi $75M for failing to disclose high-risk mortgage assets

07/30/2010 | Wall Street Journal, The

Citigroup agreed to pay $75 million to settle a civil fraud charge from the U.S. Securities and Exchange Commission, which accused the bank of failing to disclose to investors $40 billion in risky mortgage assets. Losses on the mortgage securities took Citi to the verge of collapse.

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Wall Street Journal, The

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