Another bank in fraud trouble? No way! (sarcasm!!) Bank of America might be in some serious trouble: The Wall Street Journal reported late Friday that New York’s Attorney General has subpoenaed BoA CEO Brian Moynihan. Read more details after the jump!!
(HP)–New York Attorney General Eric Schneiderman is not backing off a civil fraud probe into whether Bank of America deliberately misled shareholders about the massive losses on Merrill Lynch’s books before its 2008 purchase of the investment bank.
The NY AG, who took over from Andrew Cuomo this year, has subpoenaed Bank of America Corp. CEO Brian Moynihan and other executives of the Charlotte, N.C.-based bank seeking new depositions, The Wall Street Journal reported online late Friday, citing unidentified people familiar with the matter.
A spokeswoman for the New York AG’s office declined to comment.
A Bank of America spokesman was not immediately able to be reached for comment. The bank has said that the charges are unfounded.
