BofA Employees Could Be Pulled Into $1B Mortgage Fraud Suit

Law360, New York (October 25, 2012, 8:52 PM EDT) -- Federal prosecutors could target individual Bank of America Corp. employees in the government's $1 billion False Claims Act suit alleging the bank sold bad mortgages to Fannie Mae and Freddie Mac, an assistant U.S. attorney said Thursday.

At a conference before U.S. District Judge Jed S. Rakoff that marked the case's first court date since the government unsealed its complaint Wednesday, Assistant U.S. Attorney Pierre G. Armand indicated the government was considering amending its complaint to add certain present and past employees of the bank....
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