Citibank Admits Defrauding The Govt, No Jail



Citigroup Inc has agreed to pay $158.3 million to settle U.S. civil claims that it defrauded the government into insuring thousands of risky home loans made by its CitiMortgage unit.

No jail. I know it's civil court. But, who else can tell the Department of Justice that they defrauded the government out of millions, and walk away a free man? Bankers aside, of course.


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