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California Sues State Bank For $200 Million
By: Anonymous
Tue, 10/20/2009 - 11:24
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According to Associated Press, California Attorney General Jerry Brown accused State Street Bank and Trust Co. of "unconscionable fraud", stating in a lawsuit the firm had cheated the state's largest pension funds of more than $200 million.
The suit alleges Boston-based State Street overcharged the California Public Employees Retirement System and the California State Teachers' Retirement System with fees and penalties for handling foreign currency trades.
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