New York state attorney general Eric Schneiderman has issued subpoenas asking for new depositions from current and former executives at Bank ofAmerica, The Wall Street Journal reports. The subpoenas indicate that Schneiderman is continuing the civil-fraud investigation of BofA that predecessor Andrew Cuomo started more than a year ago.
Cuomo, now the Governor of New York, alleged the bank, its former CEO Kenneth Lewis and other executives intentionally failed to disclose losses at Merrill ahead of a 2008 shareholder vote on the merger. Additionally, Schneiderman has also requested documents from BofA and several other major financial firms as part of a mortgage-related probe.
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