Citigroup's Mexican Bank Fires 11 In Oil Scandal

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Citigroup's Mexican Bank Fires 11 In Oil Scandal

by Wochit 0:36 mins

Citigroup's Mexican Bank Fires 11 In Oil Scandal

by Wochit 0:36 mins

Citigroup's Mexican bank subsidiary says it has fired 11 employees for not following proper procedures in dealing with a Mexican oil services company that allegedly defrauded Citigroup of up to $400 million. Grupo Financiero Banamex says in a Wednesday statement that the 11 employees of various ranks "did not follow the supervisory standards expected as part of their responsibilities." It says more employees may face sanctions.

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