SEC
Whistleblower
Attorneys

August 16, 2018

Citigroup Inc.

Financial Fraud

SANCTION AMOUNT: $4750000

Defendants: Citigroup Inc.

Settled charge that Respondent failed to devise and maintain a sufficient system of internal accounting controls concerning a wholly-owned subsidiary, the Mexican bank Grupo Financiero Banamex, S.A. de C.V. The subsidiary/bank allegedly made loans to a contractor based on falsified work invoices, leading to losses of hundreds of millions of dollars.

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