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Sink wants McCollum to investigate Bank of America in Florida

TALLAHASSEE — State Chief Financial Officer Alex Sink wants Attorney General Bill McCollum, one of her gubernatorial rivals, to investigate fraud at the bank where she was a longtime executive.

In a letter sent Friday to McCollum, Gov. Charlie Crist and the state pension fund director, Sink — former head of Bank of America in Florida -— asked McCollum to "immediately review" whether the alleged fraud by Bank of America and its executives has resulted in losses to Floridians. Her request came the day after New York Attorney General Andrew Cuomo filed charges of fraud against Bank of America alleging it, former chief executive Kenneth D. Lewis and former chief financial officer Joseph Price misled federal officials and investors about the size of losses at Merrill Lynch, which it was moving to take over.

"I applaud Attorney General Cuomo for his aggressive actions on behalf of New Yorkers, and it begs the question whether Florida can pursue similar legal action on behalf of our taxpayers and consumers," Sink wrote. "If former top executives at Bank of America committed the fraud outlined in Attorney General Cuomo's suit, those executives must be held accountable not only to the people of New York, but also to the people of Florida."

Sink's letter also repeats her call for the State Board of Administration to pursue lawsuits against Bank of America or any other banks that might have misled Florida's pension fund.

Sink wants McCollum to investigate Bank of America in Florida 02/05/10 [Last modified: Friday, February 5, 2010 9:50pm]
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