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N.Y. AG filing civil charges against BofA

** FILE ** In this Sept. 15, 2008 file photo, Bank of America Chairman and CEO Ken Lewis listens during a news conference in New York. New York Attorney General Andrew Cuomo has subpoenaed Lewis as part of an investigation into whether the bank misled investors about losses and executive bonuses at Merrill Lynch & Co, The Wall Street Journal reported Thursday, Feb. 19, 2009. (AP Photos/Bebeto Matthews, file)** FILE ** In this Sept. 15, 2008 file photo, Bank of America Chairman and CEO Ken Lewis listens during a news conference in New York. New York Attorney General Andrew Cuomo has subpoenaed Lewis as part of an investigation into whether the bank misled investors about losses and executive bonuses at Merrill Lynch & Co, The Wall Street Journal reported Thursday, Feb. 19, 2009. (AP Photos/Bebeto Matthews, file)

By

The Washington Times

Thursday, February 4, 2010

New York (AP) — The New York Attorney General’s office is filing civil charges against Bank of America and its former CEO Ken Lewis, saying the bank misled investors about Merrill Lynch when it acquired the Wall Street bank in late 2008.

Civil charges were also being filed against Joe Price, the bank’s former chief financial officer.

Lewis stepped down from Bank of America on Dec. 31 after almost a year of strife that followed the bank’s purchase of Merrill Lynch.

Bank of America has been accused of failing to properly disclose losses at Merrill and bonuses paid to investment bank employees before the deal closed.

Bank of America was not immediately available to comment.

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