UBS to pay $1.4 billion for fraud in mortgage-backed securities

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UBS to pay $1.4 billion for fraud in mortgage-backed securities
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Eduardo Munoz Alvarez | View Press | Corbis News | Getty Images Swiss bank UBS agreed to pay a combined $1.

Eduardo Munoz Alvarez | View Press | Corbis News | Getty Images Swiss bank UBS agreed to pay a combined $1.4 billion in penalties over fraud and misconduct in its offering of mortgage backed securities dating back to the global financial crisis, federal prosecutors announced Monday.

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