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Mexico questions Citigroup in Oceanografia probe

Monday, March 3, 2014

Mexican authorities questioned Citigroup Inc. employees and seized records from Oceanografia to examine how the bank allegedly was cheated out of hundreds of millions of dollars, two government officials said.

Mexico’s finance ministry is now running Oceanografia, according to one of the government officials.

“There will be accountability for those who perpetrated this despicable crime and any employee who enabled it,” Citigroup CEO Michael Corbat said.

Source: Bloomberg