Bank of America and two of its top executives duped shareholders about mounting losses at Merrill Lynch and manipulated Washington into handing over $20bn to help finance the 2008 merger of the two banks, the New York attorney-general alleged on Thursday. In the first official attempt to affix blame to the bank’s top management, Andrew Cuomo filed a civil fraud complaint against BofA, its former CEO Ken Lewis and former CFO Joe Price. See the FT’s “tale of two leaders” and FT Alphaville.

This entry was posted by Gwen Robinson on Friday, February 5th, 2010 at 6:00 and is featured in The 6am Cut London (5 Feb 2010) . Tagged with BofA, ken lewis. Edit this entry.