US sues Bank of America over "Hustle" mortgage fraud

By Jonathan Stempel

NEW YORK |
Wed Oct 24, 2012 10:17pm EDT

NEW YORK (Reuters) – The United States filed a rascal lawsuit opposite Bank of America Corp, accusing it of causing taxpayers some-more than $1 billion of waste by offered thousands of poisonous debt loans to Fannie Mae and Freddie Mac.

Wednesday’s case, creatively brought by a whistleblower, is a U.S. Department of Justice’s initial polite rascal lawsuit over debt loans sole to a large debt financiers, bailed out in 2008.

It also compounds a authorised problems that Bank of America Chief Executive Brian Moynihan faces over a second-largest U.S. bank’s catastrophic July

Read full article: http://www.theregister.co.uk/2012/10/23/whale_speaks_english/

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Source:
http://www.news.ezonearticle.com/2012/10/25/us-sues-bank-of-america-over-hustle-mortgage-fraud/