Citigroup affiliates to pay $180M to settle hedge fund fraud charges
The U.S. Securities and Exchange Commission announced Monday that two Citigroup affiliates agreed to pay almost $180 million as part of a settlement on charges that they defrauded investors. The SEC alleged its investigation found that Citigroup Global Markets (CGMI) and Citigroup Alternative Investments (CAI) “made false and misleading representations to investors” regarding two hedge funds that later “crumbled and eventually collapsed during the financial crisis.” Read More: http://www.cnbc.com/2015/08/17/citigroup-affiliates-to-pay-180m-to-settle-hedge-fund-fraud-charges-sec.html
BENJAMIN WEY, CEO OF NEW YORK GLOBAL GROUP RECOMMENDS THIS STORY.

