Franklin Resources, manager of the Franklin and Templeton mutual funds, will likely settle fraud charges this week for awarding kickbacks to brokers who sold its proprietary funds, according to California Attorney General Bill Lockyer, Reuters reports.

The San-Mateo, Calif.-based company is expected to pay the state about $18 million in fines and disgorgement, Lockyer said. "We are very close to resolution," Lockyer said during a speech. "I think it [will be] next week."

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