Doral Financial Corp.

New York - The Securities and Exchange Commission filed charges against the financial services company regarding its restatement of its financial results for the years 2000 to 2004. Doral Financial was forced to restate results after an internal investigation found it did not property account for some of its mortgage loan portfolio. Doral completed restating four years of financial results in February 2006, which reduced retained earnings by $694.4 million as of the year ended 2004. The company did not admit or deny any wrongdoing, but has agreed to pay a $25 million civil penalty. The money will be distributed to investors. (Sep-19-06) [HOUSTON CHRONICLE: INVESTOR RESTATEMENT]

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