Citigroup to Pay $285M to Settle SEC Claims
By Greg Chang -
2011-10-19T15:35:48Z
Citigroup agreed to pay $285 million to settle claims by the Securities and Exchange Commission that the lender mislead investors about a $1 billion collateralized debt obligation tied to the U.S. housing market in which Citigroup bet against investors.
The settlement requires Citigroup to pay $160 million in disgorgement plus $30 million in prejudgment interest and a $95 million penalty for a total of $285 million that will be returned to investors, the SEC said in an e-mailed statement.
To contact the editor responsible for this story: Greg Chang at gchang1@bloomberg.net
Rate this Page
Bloomberg moderates all comments. Comments that are abusive or off-topic will not be posted to the site. Excessively long comments may be moderated as well. Bloomberg cannot facilitate requests to remove comments or explain individual moderation decisions.