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

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).

“One person has already been terminated,” said Corbat, reports Dakin Campbell for Bloomberg. “I expect that others will be disciplined as well -- either for actions, or, just as important, inactions that helped enable this fraud.”

Citigroup Inc. (NYSE:C) has...