{"id":4370,"date":"2007-02-08T09:33:57","date_gmt":"2007-02-08T09:33:57","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2007\/02\/mbia_inc_will_pay_75_million_t_1"},"modified":"2022-05-19T13:30:16","modified_gmt":"2022-05-19T18:30:16","slug":"mbia-inc-will-pay-75-million-t-1","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/mbia-inc-will-pay-75-million-t-1\/","title":{"rendered":"MBIA Inc. Will Pay $75 Million To Settle SEC Securities Fraud Charges"},"content":{"rendered":"

One of the largest municipal bond insurers in the country has agreed to pay $75 million to settle securities fraud charges. The charges were brought against MBIA Inc. by the SEC, the New York State Insurance Department, and NY Attorney General Andrew M. Cuomo.<\/p>\n

In agreeing to pay the charge fees, the New York-based firm is not denying or admitting guilt. MBIA will pay $1 in disgorgement and a $50 million penalty-based on its agreement wit the SEC-the total will be put in a Fair Fund for investors. MBIA will also abide by a cease-and-desist order, as well as work with an independent consultant to look at specific transactions that MBIA took part in.<\/p>\n

The firm will also pay $10 million in disgorgement fees to investors and $15 million in penalties to satisfy its agreements with the NY entities. It will also restate all earnings from 1998-2004.<\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

One of the largest municipal bond insurers in the country has agreed to pay $75 million to settle securities fraud charges. The charges were brought against MBIA Inc. by the SEC, the New York State Insurance Department, and NY Attorney General Andrew M. Cuomo. In agreeing to pay the charge fees, the New York-based firm […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3760],"tags":[],"class_list":["post-4370","post","type-post","status-publish","format-standard","hentry","category-sec-enforcement"],"yoast_head":"\nMBIA Inc. Will Pay $75 Million To Settle SEC Securities Fraud Charges — Investor Lawyers Blog — February 8, 2007<\/title>\n<meta name=\"description\" content=\"One of the largest municipal bond insurers in the country has agreed to pay $75 million to settle securities fraud charges. 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