Filing: SEC v Citigroup

Filing

SEC v Citigroup

28 November 2011

On October 19, 2011, the U.S. Securities and Exchange Commission
(the “S.E.C.”) filed this lawsuit, accusing defendant Citigroup
Global Markets Inc. (“Citigroup”) of a substantial securities fraud.
According to the S.E.C.’s Complaint, after Citigroup realized in
early 2007 that the market for mortgage-backed securities was
beginning to weaken, Citigroup created a billion-dollar Fund (known
as “Class V Funding III”) that allowed it to dump some dubious assets
on misinformed investors.

PDF (15 pages): SEC v Citigroup

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