What Are the Crimes of the Big Banks? (Citi)


  1. In 2010, Citigroup agreed to pay $75 million to settle an SEC complaint that it misled investors.  The SEC said that Citigroup told investors on at least four occasions that its investment banking unit’s exposure to subprime mortgages was $13 billion, when executives knew it was $50 billion. (SOURCE)
  2. In 2008, when Citigroup received federal bailout money, it distributed million-dollar bonus awards to hundreds of workers. (SOURCE)
  3. In 2008, settled with California to repay $14 million that it took from customers whose credit card account balances went positive because of double-payments or returned items. (SOURCE)
  4. In 2000, Citibank agreed to pay $45 million to settle a consumer class-action suit for improperly assessing finance charges and late fees. (SOURCE)
  5. In 2005, Citigroup agreed to pay $75 million to settle a lawsuit over its role in the collapse of telecommunications company Global Crossing.  The suit accused the bank of issuing exaggerated research reports and failing to disclose conflicts of interest. (SOURCE)
  6. In 2002, Citigroup agreed to pay $400 million to settle charges that it deceived investors with biased research. (SOURCE)
  7. In 2008, Citigroup said it would pay $1.66 billion to the Enron Bankruptcy Estate; it alleged that, with the help of banks like Citi, Enron kept creditors in the dark about the company’s financial troubles by using shady accounting.Citigroup and JPMorgan Chase agreed in 2003 to pay nearly $300 million in fines and penalties to settle accusations by the Securities and Exchange Commission and the Manhattan district attorney’s office that the two banks had enabled Enron to misrepresent its true financial condition before its collapse. (SOURCE) (SOURCE)
  8. In 2010, the New York State Attorney General had to intervene to prevent Citibank from changing the terms on free checking accounts with ZERO days notice. (SOURCE)
  1. En 2010, Citigroup acordo pagar $75 millon penalty a SEC para enganar sus inversores.  Dijeron que a lo menos 4 veces Citigroup dijo a los inversores que sus inversiones en prestamos hipotecarios de alto riesgo fueron $13 millon, pero savian que fueron $50 millon.
  2. Cuando recivio dinero del gobierno en 2008 para rescatarle, Citigroup pago bonificacion a cienes de empleados de mas que un millon de dolares.
  3. En 2008, pago penalty al estado california de $14 millon que robo del clientes que tenian cuentas positivas.
  4. (Nota de traductor: Vamos a traducir el contenido restante.)

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