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Article: LOS ANGELES CITY ATTORNEY DELGADILLO FILES CIVIL ACTIONS AGAINST MAJOR FINANCIAL INSTITUTIONS, BOND INSURERS FOR FRAUD
- Article from:
- US Fed News Service, Including US State News
- Article date:
- July 23, 2008
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The City of Los Angeles issued the following news release:
Los Angeles City Attorney Rocky Delgadillo today announced his office has filed two civil actions on behalf of the City of Los Angeles against more than 30 major Wall Street financial institutions and bond insurers for engaging in fraudulent, unlawful, and deceptive business acts and practices involving municipal bonds and bond investments which cost City taxpayers millions of dollars.
"We're filing these suits because we believe it's time these corporations are held accountable for systematically cheating our taxpayers out of tens of millions of dollars, and doing so in clear violation of State law," said City Attorney Rocky ...