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Litigation

Sep. 28, 2016

SEC drops key charges against mortgage lenders

After unsuccessful trial, SEC drops most of remaining charges for retrial of Thornburg executives.

By Phil Johnson
Daily Journal Staff Writer

The Securities and Exchange Commission dropped three key fraud charges Friday against a pair of former mortgage industry executives alleged to have defrauded investors shortly before the 2008 stock market crash.

When charges were filed in 2012, the SEC alleged that the executives schemed to fraudulently overstate the Thornburg Mortgage Inc.'s income by more than $400 mil...

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