Investors Accuse Citi Execs Of "Suspicious" Trades Of Over $150 Million
An investor lawsuit contends that Citigroup Inc insiders, including senior counselor and former U.S. Treasury Secretary Robert Rubin, sold more than $150 million of their own shares at inflated prices while concealing the bank's true financial health.
The allegations were made in a nearly 500-page court complaint filed by shareholders who are suing the bank for fraud related to its disclosures over mortgage-linked securities. The complaint was filed late Monday in U.S. District Court in Manhattan.





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Reuters | Martha Graybow | December 3, 2008 05:20 PM