September 18, 2004 |
Japan ordered Citigroup Inc. to close its Japanese private banking offices after uncovering a series of problems, including a failure to prevent suspected money laundering. The sanctions effectively shut the world's largest financial services company out of the lucrative private banking business in Japan. It also marked the third time this week that New York-based Citigroup either apologized for or acknowledged missteps that drew the ire of international regulators.
August 14, 2002 |
Citigroup Inc. received a congressional subpoena demanding documents on any role stock analyst Jack Grubman played in allocating initial public offering shares to WorldCom Inc. executives. The House Financial Services Committee, which issued the subpoena, is investigating whether Grubman helped favored executives obtain IPO shares in return for their giving investment banking business to Citigroup's Salomon Smith Barney Inc. unit.
June 13, 2013 |
This post has been updated with information from an amended criminal complaint filed Thursday afternoon. Hackers allegedly targeted 15 financial institutions, including JPMorgan Chase & Co., Citigroup Inc. and E-Trade, as part of a nearly two-year-long scheme to hack into customer accounts online to steal at least $15 million, U.S. authorities announced this week. "Cybercriminals penetrated some of our most trusted financial institutions as part of a global scheme that stole money and identities from people in the United States," New Jersey U.S. Attorney Paul J. Fishman said in a statement.
December 4, 2004 |
Citigroup Inc., Chairman Sanford Weill and former analyst Jack Grubman failed to win dismissal of a lawsuit alleging the firm tailored research on AT&T Corp. to gain investment banking business. U.S. District Judge Gerard Lynch rejected a request by Salomon Smith Barney, the investment banking unit of the world's biggest bank, to throw out the civil case, allowing it to proceed toward trial.
July 31, 2004 |
Parmalat is seeking more than $10 billion in damages from Citigroup Inc. in a lawsuit that accuses the U.S. bank of helping defraud the Italian food firm and its shareholders and creditors of billions of dollars. The new administration of Parmalat said in the lawsuit that "the top levels" of the world's leading financial services group played a crucial part in the multibillion-dollar fraud that plunged the company into insolvency in December.
March 2, 2004 |
Citigroup Inc. said it received subpoenas from regulators over allegations of improper payments at its mutual fund unit. New York-based Citigroup first disclosed the investigations in November, when it said it was cooperating with federal and state regulators. Citigroup said "various government regulators" had issued subpoenas and requests for information in connection with investigations of an undisclosed arrangement between its mutual funds and a vendor that provided transfer-agent services.
March 24, 2003 |
Sanford I. Weill, chief executive of brokerage firm Citigroup Inc., asked that his name be withdrawn from a list of nominees for director of the New York Stock Exchange, the chief executive of the exchange said. New York Atty. Gen. Eliot Spitzer recently said the firm's involvement in a conflicts-of-interest investigation of Wall Street brokerages made Weill an inappropriate representative for the investing public.
May 7, 2004 |
Merrill Lynch & Co., the biggest U.S. securities firm, and Citigroup Inc., the world's biggest financial services company, put more of their money at risk during the first quarter to boost trading revenue. Both New York-based companies took bigger bets in the bond and stock markets in the quarter as they sought to benefit from low interest rates and an improvement in equity markets, they said in quarterly filings with the Securities and Exchange Commission this week.
January 15, 2004 |
Italian police seized documents from a Citigroup Inc. unit as prosecutors investigated whether anyone at the U.S. bank had helped the now-insolvent food group dupe investors. In Milan, tax police took documents from the offices of Eureka, a unit of Citigroup. The biggest U.S. financial services firm said it was assisting Italian authorities. Investigators are trying to establish whether anyone from Citigroup had helped Parmalat-linked firms raise debt backed by inflated invoices. From Reuters