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Citigroup 'defrauded' Fannie, Freddie

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Bloomberg

Citigroup Inc, which last week admitted breaking Federal Housing Administration rules and paid a fine, also violated regulations for home loans sold to Fannie Mae and Freddie Mac, according to a whistle-blower's complaint.

The bank "defrauded, falsified information or misled federal government entities" by selling or securing insurance for mortgages with defects.

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First Published: Feb 23 2012 | 12:59 AM IST

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