NEW YORK: Citigroup Inc is close to paying about US$7bil to resolve a US probe into whether it defrauded investors on billions of dollars worth of mortgage securities in the run-up to the financial crisis, a source familiar with the matter said.
A majority of the settlement was expected to be in cash, but the figure also included several billion dollars in help to struggling borrowers, the source said.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
