Federal Jury Finds Bank Of America Guilty Of Mortgage Fraud

Federal Jury Finds Bank Of America Guilty Of Mortgage Fraud

NEW YORK - A federal jury on Oct. 23 found Bank of America Corp., as successor to Countrywide Financial Corp., and a former Countrywide employee guilty of engaging in a scheme to defraud Fannie Mae and Freddie Mac in connection with Countrywide's residential mortgage lending business, according to a statement released by the U.S. Attorney for the Southern District of New York Preet Bharara (United States of America v. Bank of America Corp., et al., No. 12-1422, S.D. N.Y.).

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