Citigroup to Pay $285M to Settle SEC Claims
Citigroup agreed to pay $285 million to settle claims by the Securities and Exchange Commission that the lender mislead investors about a $1 billion collateralized debt obligation tied to the U.S. housing market in which Citigroup bet against investors.
The settlement requires Citigroup to pay $160 million in disgorgement plus $30 million in prejudgment interest and a $95 million penalty for a total of $285 million that will be returned to investors, the SEC said in an e-mailed statement.
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