Andrew Cuomo, New York attorney-general, has issued subpoenas to one current and four former board members of Bank of America to testify about BofA’s acquisition of Merrill Lynch. In a widening of his probe, Cuomo will eventually call all 15 outside members of last year’s BofA board, nine of whom have since left, to determine whether they were aware of mounting losses at Merrill and its plans to accelerate its $3.6bn bonus payout.

This entry was posted by Gwen Robinson on Thursday, September 17th, 2009 at 4:42 and is filed under Capital markets, People. Tagged with andrew cuomo, BofA, merrill lynch. Edit this entry.