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.

citibank

Reuters:

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.

About Diane Sweet

Diane Sweet's picture
Senior Editor, Lives in a gerrymandered district in Michigan.

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