Citi Closes Door On DOJ's Reckless-Mortgage Suit For $158M

Law360, New York (February 15, 2012, 4:12 PM EST) -- Citigroup Inc. on Wednesday agreed to pay $158.3 million in a False Claims Act suit that federal prosecutors in New York simultaneously launched and settled, accusing a subsidiary of defrauding the U.S. Department of Housing and Urban Development through its residential mortgage lending business.

U.S. District Judge Victor Marrero approved the settlement, which follows the $25 billion secured in a separate settlement last week with five of the nation's largest mortgage servicers, including Citigroup. The agreement ends a suit in which federal prosecutors alleged that for...
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Case Information

Case Title

ABC v. DEF


Case Number

1:11-cv-05473

Court

New York Southern

Nature of Suit

Other Statutory Actions

Judge

Victor Marrero

Date Filed

August 5, 2011

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