SEC Charges BofA With Setting Up Fake Bids To Defraud Munis

SEC Charges BofA With Setting Up Fake Bids To Defraud Munis

The SEC has charged Banc of America with fraud for rigging municipal bond sales with dummy bids, defrauding hospitals, schools, and other state-run organizations. The bank will pay $137 million to settle these charges. [More]