civil fraud

The Securities and Exchange Commission has charged six former top executives at Fannie Mae and Freddie Mac with civil fraud, saying they misled the government and taxpayers about risky subprime mortgages the mortgage giants held during the housing bust.

The Securities and Exchange Commission on Friday brought civil fraud charges against six former top executives at Fannie Mae and Freddie Mac, saying they misled investors about risky subprime loans the mortgage giants held when the housing bubble burst.

The government is appealing a federal judge's ruling that struck down a $285 million civil fraud settlement with Citigroup.

Citigroup has agreed to pay $285 million to settle civil fraud charges that it misled buyers of complex mortgage investments just as the housing market was starting to collapse.

Goldman Sachs & Co. says one of its units is being investigated by federal regulators over whether it improperly used investment accounts to make trades and could face civil fraud charges.

The WSJ's Liz Rappaport on why New Yorka s attorney general is poised to file civil fraud charges against Ernst Young.

Angelo Mozilo, who helped build the company into the nation’s largest mortgage lender, agreed to pay $67.5 million to settle a civil fraud case.

Goldman Sachs' second-quarter net income fell 83 percent as its trading revenue fell and it booked a charge for its settlement of civil fraud charges with the SEC.

Here is a recap of the top news items from this week on Wall Street: 1. Goldman Sachs (NYSE: GS) shares rose more than 6% to finish this week's trading session (over the course of Thursday and Friday) following news that the bank and the SEC have reached an agreement to to settle the civil fraud charges brought against the firm for allegedly misleading investors about mortgage-backed securities.

Goldman will be required to pay $300 million in fines, with the rest of the money going to compensate investors who lost money on the investments in question.

Although speculation on a possible

Goldman Sachs & Co. has agreed to pay $550 million to settle civil fraud charges that the Wall Street giant misled buyers of mortgage-related investments.