The U.S. Securities and Exchange Commission plans to file charges against firms and people involved in the creation of a $1.6 billion mortgage-bond deal called Delphinus CDO 2007-1, the Wall Street Journal reported citing people close to the investigation. Mizuho Financial Group Inc. (MFG: Quote) and former employee Alexander Rekeda are likely to face civil charges, the report said.
Mizuho Financial underwrote and sold the mortgage-bond deal, while Rekeda assembled it, the report added.
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by RTT Staff Writer
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