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Violation Tracker Individual Record

Company: Citigroup Inc.
Current Parent Company: Citigroup
Penalty: $291,750,000
Year: 2014
Date: July 14, 2014
Offense Group: financial offenses
Primary Offense: toxic securities abuses
Secondary Offense: investor protection violation
Mega-Scandal: Toxic Securities
Violation Description: Citigroup agreed to pay $291 million to five states to settle litigation concerning the origination and sale of toxic securities in the period leading up to the financial crisis. The five states and the amounts were: California ($102.7 million), Delaware ($7.35 million), Illinois ($44 million), Massachusetts ($45.7 million) and New York ($92 million). This was part of a larger $7 billion settlement involving the federal government; see the Violation Tracker entry at (click here)
Level of Government: state
Action Type: agency action
Agency: Multistate Attorneys General Case
Civil or Criminal Case: civil
HQ Country of Current Parent: USA
HQ State of Current Parent: New York
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: banking & securities
Source of Data: (click here)
Archived Source: (click here)
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.