Tag: $235 million

Citigroup reports fraud in Mexico unit, lowers 2013 results

Citigroup Inc (C.N) said on Friday it has discovered fraud in its Mexico subsidiary and is reducing its previously reported 2013 net income by $235 million. The company said in a statement the matter involved about $585 million in short-term credit extended by its Banamex unit to Oceanografia SA de […]