US Justice Department says Bank of America Securities resolves criminal investigation

WASHINGTON (Reuters) -The U.S. Justice Department said on Thursday that the Bank of America Securities resolved a criminal investigation involving alleged market manipulation schemes by former employees.

“As part of the resolution, the Justice Department has declined to prosecute BoAS, and BoAS will disgorge approximately $1.96 million and contribute approximately $3.6 million to a victim compensation fund it will establish and administer,” the department said.

(Reporting by Jasper Ward; editing by Costas Pitas)