United Western Bancorp Inc (fka UWBKQ)

[iPrelude]

UBS Agrees to Pay $1.435 Billion for Fraud in the Sale of Residential Mortgage-Backed Securities

[ https://www.justice.gov/opa/pr/ubs-agrees-pay-1435-billion-fraud-sale-residential-mor ]

" ... Following an extensive investigation, the United States filed a complaint alleging that UBS defrauded investors in connection with the sale of 40 RMBS issued in 2006 and 2007. The complaint alleged that UBS knowingly made false and misleading statements to buyers of these securities relating to the characteristics of the mortgage loans underlying the RMBS in violation of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA). The FIRREA claims were based on alleged violations of the mail, wire, and bank fraud statutes. ..."

Settlement

https://www.justice.gov/media/1310171/dl?inline