Bar­clays sued over mort­gage-backed se­cu­ri­ties. The Jus­tice

The Denver Post - - BUSINESS -

Depart­ment has sued Bar­clays Bank PLC and sev­eral of its U.S. af­fil­i­ates over the sale of risky mort­gage­backed se­cu­ri­ties.

The law­suit, filed Thurs­day, seeks to re­cover civil penal­ties for fraud from the Bri­tish bank. It ac­cuses the bank and its em­ploy­ees of mis­rep­re­sent­ing the qual­ity of the loans they sold to in­vestors be­tween 2005 and 2007. The Jus­tice Depart­ment says in­vestors lost bil­lions of dol­lars.

Bar­clays said it de­nies the al­le­ga­tions in the law­suit and says the claims “are dis­con­nected from the facts.

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