Lawsuit: Citigroup Peddled Toxic Mortgages To Korean Bank

A Korean bank has sued Citigroup Inc. for selling faulty collateralized debt obligations worth $95 million, according to Bloomberg News. The lawsuit filed by Woori Bank in Seoul charged that Citigroup knew CDOs it peddled to Woori back in 2006 and 2007 were bound for default. Bloomberg quoted the lawsuit as saying Citigroup used the sales to “move toxic mortgages off their balance sheet and onto those of the plaintiff.” The news service also quoted a Citigroup spokesman as saying the lawsuit is “totally without merit.”

Lawsuit: Citigroup Peddled Toxic Mortgages To Korean Bank

89 Defendants Are Arrested In $223 Million Medicare Scheme

California Man Convicted In $250 Million Real Estate Ripoff Case

Forex Ponzi Scheme Results In Court Order To Repay $23 Mil

Texas Man Gets 71 Months For Pump & Dump That Made $3 Mil

Regulator Sues Metal Dealer For Allegedly Cheating Buyers

FINRA Fines Three Companies For Ignoring Money Laundering

D.C. Judge Throws Out Charges After Seven-Year Litigation

Mortgage Servicing Company To Pay $14 Mil To Settle Lawsuit

Delray Beach Resident Charged With Fla. Land Ponzi Scheme

'Criminal Club' Member Gets Prison Time, $5 Million Fine

Feds Now Targeting Broker In Commodity Inside Trading Case

Hammer Of Justice Falls Hard On Four Chicago Scam Defendants

Former ArthroCare Executive Enters Plea To Pumping Sales

Trial Set For SAC Hedge Fund Manager Steinberg In November

Two So. Calif. 'Street Angels' Now Headed To Federal Lockup

Hedge Fund Manager Pays $4 Mil; Gets A Slap On Wrist From SEC

FINRA, SEC Issue Warning On Income Settlement Sales Deals

Indictment: South Dakota Case Included NBA Star As A Victim

California Defendant Pleads As Part Of $5 Million Scheme

Former Top Enron Executive Will See Prison Time Shortened

Massachusetts Lawyer's Wife Sentenced For Embezzlement

Zeek Rewards Losers Can Now File Online Claims For Damage

Former Dallas Cowboy Involved In Texas T-Bill Ponzi Scheme

Need An 88-Foot Luxury Yacht? Madoff's 'Bull' On The Market

Fannie Mae, KPMG Pay $153 Mil To Settle Pension Funds Lawsuit

New York Brokerage Officials Charged In Venezuelan Bribery

Socialite Gets 19 Months For A Scheme That Made Millions

Hedge Fund Manager To Plead To Covering Up $9 Mil In Losses

Massachusetts Couple Charged With Taking Millions In Scam