Demanded the former president of Bank of America for fraud

The New York Attorney General Andrew Cuomo reported that sued the former president of the U.S. bank Bank of America (BofA), Ken Lewis, and two of its former executives for fraud and "manipulate" the authorities to receive federal aid mass in 2008.

The charges are framed in the purchase of investment bank Merrill Lynch by Bank of America.
According to Cuomo, supported by the head of the Treasury responsible for monitoring the proper use of funds released in autumn 2008 to save the financial system, the leadership of Bank of America conducted a "maneuver arrogant" and made "a huge fraud."
The lawsuit contends that the direction of BofA voluntarily hid massive losses from investment bank Merrill Lynch, which had decided to buy in September 2008, "so that its shareholders voted for the merger."

Moreover, the Bank of America spokesman Bob Stickler said the bank believed "regrettable" that Cuomo filed the charges, since they lacked merit.
"The evidence shows that Bank of America and its executives, including Ken Lewis and Joe Price, at all times acuta in good faith and consistent with its legal and fiduciary obligations," he said.

With this demand, the Bank of America fell to session lows levels on Wall Street, losing 3.6% to U.S. $ 14.97.