Citigroup to pay $158.3 mln in US mortgage accord

Wed Feb 15, 2012 1:31pm EST

Feb 15 (Reuters) - Citigroup Inc has agreed to pay $158.3 million to settle U.S. civil claims that it defrauded the government with regard to some home loans extended by its CitiMortgage unit.

The settlement resolves claims under the federal False Claims Act, and concerned more than six years of misconduct, according to U.S. Attorney Preet Bharara in Manhattan.

It was approved by U.S. District Judge Victor Marrero in Manhattan, Bharara said.

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