FBI probes Citigroup's case in Mexico
U.S. Federal authorities have reportedly launched a criminal probe into whether Citigroup ignored warning signs about the $400 million fraud that took place in the banking giant’s Mexican division.
The revelation adds to the headaches facing Citi shareholders, who are still reeling over management’s failure to win regulatory approval for capital plans.
According to The New York Times, the FBI and prosecutors from the United States attorney’s office in Manhattan have opened a criminal investigation into the $400 million fraud at Banamex, which Citi revealed in late February.
Source: Fox Business