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Citigroup paying $285M to settle SEC fraud charges
Citigroup paying $285 million to settle civil fraud charges over complex mortgage investments
By The Associated Press

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

The Securities and Exchange Commission says the big Wall Street bank bet against the investors in 2007 and made $160 million in fees and profits. Investors lost millions.




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