Saturday, October 03, 2009

NY AG Cuomo considers hitting CEO Lewis with civil fraud charges.

Bailout Sleuth:

Kenneth D. Lewis, who announced his retirement this week as chief executive of Bank of America Corp., may be hit with civil fraud charges in New York, according to a new report.

The New York Times reported that Andrew M. Cuomo, the state's attorney general, may file suit against Lewis as early as next week for having failed to fully disclose the details of the bank's purchase late last year of Merrill Lynch & Co.

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