Banking titan Citigroup Inc is paying USD 75 million to settle civil charges that

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it misled investors about its potential losses from subprime mortgages as the housing bust hit in 2007.

The Securities and Exchange Commission announced the settlement with Citigroup on today. It says the company repeatedly made misleading statements in calls with analysts and regulatory filings about the extent of its holdings tied to high-risk mortgages.

Citigroup said that exposure was USD 13 billion or less, when in fact it exceeded USD 50 billion, the SEC said. Two former Citi executives also settled the SEC's charges.