Leaker: BofA unit in fraud
A former Bank of America employee claims to have e-mails showing that the bank hid paperwork and engaged in mortgage fraud.
The e-mails were obtained by an ex-Balboa Insurance employee, identified as Brian Penny, and made public by Anonymous, a hacker group sympathetic to WikiLeaks.
The group claims that the e-mails show that Balboa, a BofA specialty insurance unit, committed fraud by withholding details about certain loans tied to BofA client GMAC.
“We’re confident that [Penny’s] extreme assertions are unsubstantiated and untrue,” said a BofA spokesman.
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