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Business Briefing / Wall Street

BofA chief subpoenaed on bonuses

February 21, 2009|Times Wire Reports

Bank of America Corp. Chief Executive Ken Lewis has received a subpoena from the New York state attorney general's office in connection with Merrill Lynch's payment of employee bonuses before the companies combined on Jan. 1.

Former Merrill CEO John Thain was questioned by investigators Thursday about the bonuses that were paid in late December, just days before Bank of America completed its purchase of New York-based Merrill, according to a person familiar with the investigation.

Bank of America declined to comment.

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