Tuesday, August 7, 2007

First Bancorp Settles SEC Financial Fraud Charges Involving "Non-Conforming" Mortgages (U.S. Securities and Exchange Commission)

Washington D.C., Aug. 7, 2007 - The Securities and Exchange Commission today filed financial fraud charges against First BanCorp, alleging that former senior management of the NYSE-listed, Puerto Rico-based bank holding company concealed the true nature of more than $4 billion worth of transactions involving "non-conforming" residential mortgages.

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[Source: Yahoo! News Search Results for mortgages]

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