Citigroup Inc. CEO Says More Will Be Disciplined In Banamex Fraud Case

HFA Padded
Published on
Updated on

Citigroup Inc. (NYSE:C) CEO Michael Corbat told shareholders yesterday that he expects to see more people disciplined in connection with the $400 million Banamex fraud that has resulted in multiple investigations that could result in serious fines down the road on top of the money that has already been lost (though the bank is looking for ways to recover at least some of the money lost in bad loans).

Citigroup logo

“One person has already been terminated,” said Corbat, reports Dakin Campbell for Bloomberg. “I expect that others will be...

This content is exclusively for paying members of Hedge Fund Alpha

Insider Strategies and Letters to Shareholders from the Top Hedge Funds and Maximize Your Portfolio Growth with Hedge Fund Alpha

Don’t have an account?

Subscribe now and get 7 days free!
This article is only available for Premium Members
Subscribe today and get :
Insider Strategies and Letters to Shareholders from the Top Hedge Funds
Exclusive Access to coverage of Private, Closed-Door Investor Conferences
Hedge Fund Manager Research Currently Producing 21% – 40% Returns Annually

Don’t have an account?

Subscribe now and get 7 days free!