US sues Barclays for mortgage securities fraud

23rd Dec 2016 07:19

(ShareCast News) - The US Department of Justice has filed a lawsuit against Barclays and two of its former executives on civil charges of fraud in the sale of mortgage-backed securities in the run-up to the financial crisis.Barclays said on Friday that it rejects the claims made in the complaint and considers that they are "are disconnected from the facts"."Barclays will vigorously defend the complaint and intends to seek its dismissal at the earliest opportunity," the bank said.The civil claim makes a number of allegations, including mail and wire fraud. Among other relief, it seeks unspecified monetary penalties.