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SEC Loses Civil Fraud Case Against Ex-Citigroup Manager Brian Stoker

Reuters – A former Citigroup Inc. manager was found not liable on Tuesday [July 31] of civil charges of misleading investors, a blow to regulators in one of the few fraud cases brought against a Wall Street executive over the collapse of subprime mortgage investments.

Brian Stoker, who worked on the bank’s mortgage investments desk, was charged by the U.S. Securities and Exchange Commission as part of a broader civil lawsuit against the bank.

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