Bank of America

Cuomo Charges BofA, Lewis, With Securities Fraud

Zachary Roth | February 4, 2010, 12:18PM

Former Bank of America CEO Ken Lewis

New York Attorney General Andrew Cuomo has filed civil securities fraud charges against Bank of America and the firm's former CEO Ken Lewis, reports (sub. req.) the Wall Street Journal.

Cuomo alleges that Lewis, Chief Financial Officer Joe Price, and other BofA execs, chose not to disclose to shareholders the extent of the losses at Merrill Lynch before BofA bought the ailing Wall St. investment bank in late 2008.

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