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n2doc

(47,953 posts) Mon Mar 3, 2014, 11:23 AM Mar 2014

Citigroup Discloses Money-Laundering Subpoenas

Source: NYT

Citigroup and its Mexican subsidiary have received grand jury subpoenas from federal prosecutors over issues of compliance with anti-money-laundering and bank secrecy laws, the bank disclosed on Monday.

The disclosure in the bank’s annual securities filing comes after Citigroup said its Mexican unit Banamex had been defrauded of as much as $400 million.

The grand jury subpoenas were issued by the United States attorney’s office in Massachusetts.

Banamex USA also received a subpoena from the Federal Deposit Insurance Corporation related to the Bank Secrecy Act and anti-money-laundering program, Citigroup said.

Read more: http://dealbook.nytimes.com/2014/03/03/citigroup-discloses-money-laundering-subpoenas/?smid=re-share

5 replies

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Citigroup Discloses Money-Laundering Subpoenas (Original Post) n2doc Mar 2014 OP

I'm confident that the executives responsible will face lengthy prison terms Orrex Mar 2014 #1

But that would harm the banks and its workers! RVN VET Mar 2014 #2

It's a given. jsr Mar 2014 #5

Citigroup bought Banamex because it was laundering money. JackRiddler Mar 2014 #3

If there is any executive punishment WhiteTara Mar 2014 #4

Orrex

(63,213 posts)

1. I'm confident that the executives responsible will face lengthy prison terms

Reply to n2doc (Original post)

Mon Mar 3, 2014, 11:59 AM

Mar 2014

Like they always do.

RVN VET

(492 posts)

2. But that would harm the banks and its workers!

Reply to Orrex (Reply #1)

Mon Mar 3, 2014, 12:14 PM

Mar 2014

Think of the people!

(Seriously, I get the sarcasm. I only wish it were otherwise and these crooks and scumbags would actually be treated under the law as if they were human beings and not some superior life force.)