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Fresh Insight into Popular Legal Topics

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$285 million settlement

Citigroup gets off easy, Judge Rakoff to the rescue?

October 28, 2011 by Archives Leave a Comment

This week, Citigoup agreed to pay $285 million to settle a complaint from the Securities and Exchange Commission for defrauding customers through a $1 billion portfolio of mortgage-related investments. The bank chose many of the investments precisely because they knew they would fail, and bet against them accordingly—all without informing their customers. While it amounts […]

Filed Under: News Tagged With: $285 million settlement, Citigroup, Judge Jed Rakoff, SEC

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