Citigroup QC Whistle-Blower Get $31 Million Bounty
… Instead of reporting the defects to the Federal Housing Administration, the bank saddled the agency with losses by falsely declaring the loans fit for its federal insurance program, according to a complaint filed last week by the U.S. Attorney’s Office in Manhattan. Citigroup agreed to pay $158.3 million to settle the claims and admitted that it certified loans for FHA backing that didn’t qualify.Click to continue


Wed, Feb 22, 2012
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