Investors Accuse Citi Execs Of "Suspicious" Trades Of Over $150 Million

Reuters:

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.

Read the whole story: Reuters

Comments

[jeffrey678]

Hire Elliot Spitzer to investigate and prosecute them!

[satyriasis]

Robert Rubin should be in handcuffs. At least Summers went into academia. Rubin went straight to Citi and perpetrated one of the biggest frauds in history.

[parlormaid]

Whatever they did not get thru securities fraud and insider trading, they will be getting from their customers thru 30% interest rate on CITI Credit cards. Its a Win Win Situation! Get ready for their sob story. Maybe another $307 Billion (Bridge Loan) would fix their problem.

[dadw5boys]

The heading should say EX - CITI excutives .

No current employees are mentioned in the lawsuit !

[darthdarcy]

"Dirty deeds done dirt cheap..!"

Well not exactly dirt cheap...but lots of dirty deeds..!

As Jesus said..

"It's easier to get a camel through the eye of a needle, than for a rich man to enter My Fathers Kingdom..!"

[themodernleader]

The extent of the swindle and fraud will not be fully uncovered until their is honest accounting of the full extent of the bankrupted condition of our financial institutions generally and other conglomerates specifically.

[conscioushope]

Execs dishonest???

Nahhhh! Couldn't be so.

[MyTake]

And to think that Robert Rubin oversaw the staffing of Obama's economic team, all of which arose from the ranks of the vaunted CFR (aka The Rockefeller Shadow Government)!

[1man1voicenovote]

More Truth and Justice, please!

We ran out a while back...

Waiter! Waiter!

Always helping the private party in the back.

I don't think he cares about a tip, as long as I pay the bill!

[nogimmicks]

I was at a jury duty not too long ago where a young lady walked out of a store with a small item under 40 dollars. Martha Stuart was jailed for trading 4 thousand shares. But those guys who pocketed trillions are getting the subsidy from the taxpayers. It is too bad Obama gave support and the power to waste the public money to Geithner.

[FreedomCorpse]

and the culprits will conveniently die like Kenny Boy at Enron just before court appearances and later found drinking umbrella drinks in Fiji with Ken.

[mjb5406]

OMG... bank execs conducting illegal trades? What is this world coming to??? (