Citigroup Affiliates To Pay $180 Million To Settle SEC Hedge Fund Charges

Two Citigroup affiliates agreed to pay almost $180 million to settle the charges filed by the Securities and Exchange Commission (SEC) for allegedly defrauding hedge funds.

Fraud charges against Citigroup affiliates

According to the SEC, Citigroup Global Markets (CGMI) and Citigroup Alternative Investments LLC (CAI) claimed to two hedge funds that they were safe, low-risk, and suitable for traditional bond investors. However, both firms fell apart and eventually collapsed during the...

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