NY AG Names Names—Charges Ken Lewis With Fraud

Published Thursday, February 04, 2010

The New York Attorney General’s office today charged Bank of America CEO Ken Lewis with fraud for failing to disclose material details about Merrill Lynch in its merger with the brokerage. The move takes the case one step further than the SEC did: The SEC charged only the bank itself rather than individual corporate officers. Financial services lawyers say there may be more bad news for Lewis down the line. “The SEC had the opportunity to charge Ken Lewis or other corporate officers, but it ended up just charging the company,” says Brian Rubin, a partner at Washington ...

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