Citigroup Said to Pay $75 Million to Settle SEC Subprime Case
Charles Prince, former chief executive officer of Citigroup Inc., during a hearing of the Financial Crisis Inquiry Commission in Washington, D.C. Photographer: Joshua Roberts/Bloomberg
The U.S. Securities and Exchange Commission today accused Citigroup Inc. with misleading investors about the company’s exposure to subprime mortgage- related assets and also said Citigroup agreed to pay a $75 million penalty.
The SEC also accused one current and one former executive for their roles in causing Citigroup to make the misleading statements in an SEC filing. The information was in an e-mailed statement.
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