Government,
Civil Litigation
Dec. 27, 2017
Royal Bank of Scotland to pay $125M for defrauding pension funds
In the latest large settlement stemming from the financial crisis, Royal Bank of Scotland Group has agreed to pay $125 million for defrauding the state’s two largest pension funds.
SACRAMENTO — In the latest settlement stemming from the financial crisis, Royal Bank of Scotland Group has agreed to pay $125 million for defrauding the state’s two largest pension funds.
Attorney General Xavier Becerra announced the deal Friday. An investigation by the state Department of Justice found the company, known as RBS, misrepresented the quality of mortgage-backed securities sold to CalPERS, the main pension fund for stat...
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