Calif.-based federal attorney to step down at the end of April

Calif.-based federal attorney to step down at the end of April

California-based federal prosecutor Benjamin Wagner announced on Wednesday that he will step down from his position at the end of this month.

Mr. Wagner, U.S. attorney for the Eastern District of California, will resign on April 30, 2016. He said he decided to step down as President Barack Obama’s administration has started winding down.

Mr. Wagner was appointed to the post in 2009 by the Obama administration. His office reached a number of high-profile settlements, including $13 billion payment by JPMorgan Chase in 2013, and $5 billion settlement with Goldman Sachs last week.

He alleged that both JPMorgan Chase and Goldman Sachs mislead investors over the quality of residential mortgage-backed securities that thousands of homeowners millions of dollars. As many as 300 individuals were convicted in the cases.

The federal prosecutor’s office also secured a $122 million settlement with Sierra Pacific Industries, California’s largest private landholder, over a massive, destructive wildfire.

After Mr. Wagner’s departure, First Assistant U.S. Attorney Phillip Talbert will become acting U.S. attorney for the Eastern District of California on May 1, 2016.