WASHINGTON (AP) — Merrill Lynch has agreed to pay $131.8 million to settle U.S. civil charges that it misled investors about risky mortgage bonds it sold ahead of the 2008 financial crisis.

The Securities and Exchange Commission announced the settlement Thursday. Merrill Lynch was accused using misleading materials to market the investments in 2006 and 2007. The materials gave investors a false impression that the collateral for the securities was chosen by an independent firm, the SEC said.

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