Bank Of America Board Members Subpoenaed

Bank Of America Board Members Subpoenaed

New York Attorney General Andrew Cuomo’s office is gathering information in order to file fraud charges against some BoA executives over what they knew, and what they hid, when they acquired Merrill Lynch & Co. a year ago. Earlier this week, his office subpoenaed 5 board members to find out “what they knew regarding the mounting losses and bonus payments at Merrill before the deal closed on Jan. 1 and what role they played in deciding whether to disclose that information to shareholders,” according to the Associated Press.