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Citigroup fires 11 more in Mexico over fraud

Thursday, May 15, 2014

Citigroup is moving quickly to try to put a costly fraud at its Mexican business behind it, firing an additional 11 employees, including four high-ranking executives in Mexico.

Among those fired were four of the bank’s top executives in Mexico: its head of corporate banking, head institutional risk officer, head of trade finance and head of trade and treasury solutions.

Some of the employees had worked at Banamex for as long as two decades and were not involved in the fraud directly.

Source: New York Times