Trade Your P/L, Trade the Market. Manage your Risk.
-
U.S. sues UBS, alleges crisis-era mortgage securities fraud
The U.S. government on Thursday filed a civil fraud lawsuit accusing UBS Group AG, Switzerland’s largest bank, of defrauding investors in its sale of residential mortgage-backed securities leading up to the 2008-09 global financial crisis. UBS was accused of misleading investors about the quality of more than $41 billion of subprime and other risky mortgage loans backing 40 securities offerings in 2006 and 2007, the Department of Justice said in a complaint filed with the federal court in Brooklyn. The lawsuit came after UBS rejected a government proposal that it pay nearly $2 billion to settle, according to a ... (full story)
- Comments
- Subscribe
- Comment #1
- Quote
- Nov 9, 2018 9:40am Nov 9, 2018 9:40am
- BernardWG
- | Joined Jul 2011 | Status: Member | 33 Comments
- Comment #2
- Quote
- Nov 11, 2018 9:40am Nov 11, 2018 9:40am
- Namli
- | Joined Nov 2013 | Status: Member | 91 Comments
- Comment #3
- Quote
- Nov 11, 2018 10:16am Nov 11, 2018 10:16am
- 2dollardog
- Joined Nov 2017 | Status: Rebarkable | 415 Comments