BofA's Lewis could face charges in Merrill investigation

09/18/2009 | TIME (subscription required)

Bank of America Chairman Ken Lewis could face charges for his role in handling the acquisition of Merrill Lynch last year. If it is proved that Lewis lied about the acquisition -- there are accusations that shareholders weren't informed about losses at Merrill -- he could not only face civil charges but he would probably lose his job. New York's attorney general is investigating the Merrill acquisition, and the Securities and Exchange Commission, which has seen its proposed settlement with BofA thrown out by a federal judge, may take the case to trial in February.

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