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SEC Bank Investigation: JPMorgan, Citi, Deutsche Bank, UBS Get Subpoenas Over Mortgage Deals

First Posted: 07/13/10 06:12 AM ET Updated: 05/25/11 05:30 PM ET

Sec Bank Investigation

bloomberg.com:

May 13 (Bloomberg) -- U.S. federal prosecutors and the Securities and Exchange Commission are cooperating in a preliminary criminal probe into whether banks misled investors about their participation in mortgage-bond deals, the Wall Street Journal said, citing a person familiar with the matter.

JPMorgan Chase & Co., Deutsche Bank AG, UBS AG and Citigroup Inc. have received civil subpoenas from the SEC, the newspaper said today. Goldman Sachs Group Inc. and Morgan Stanley are already being investigated under similar preliminary criminal scrutiny, the Journal said.

Read the whole story: bloomberg.com

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Filed by Ryan McCarthy  |