Citigroup Ordered To Pay $3.1 Million For Broker’s Selling Away

Mani

Published onSeptember 17, 2013

Updated on May 13, 2021

Citigroup Inc (NYSE:C) was ordered by a securities arbitration panel to pay $3.1 million to an Orlando couple for not properly supervising a broker.

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Suzanne Barlyn in Reuters report the allegation relates to Citigroup Inc (NYSE:C)’s broker steering the couple to invest in a politician’s real estate developments.

Lawsuit on Citigroup for real estate investments

Orlando, Florida couple, Dr. Nasridin Madhany and his wife Zeenat Madhany, filed a case against Citigroup Inc (NYSE:C) in 2010, alleging the bank showed negligence, fraud and other misdeeds involving over $1 million...

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Mani

Mani is a Senior Financial Consultant. He has worked in Senior Management role in large banking, financial and information technology organizations. He has provided solutions for major banking and securities firms across the globe in the area of retail, corporate and investment banking. He holds MBA (Finance) and Professional Management Accounting Qualifications. His hobbies are tracking global financial developments and watching sports

Citigroup Ordered To Pay $3.1 Million For Broker’s Selling Away

Lawsuit on Citigroup for real estate investments

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