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Violation Tracker Individual Record

Company: Citigroup, Inc.
Current Parent Company: Citigroup
Parent at the Time of the Penalty Announcement:  subscribe to see this data field
Penalty: $25,000,000
Year: 2003
Date: July 28, 2003
Offense Group: financial offenses
Primary Offense: accounting fraud or deficiencies
Mega-Scandal: Early 2000s Accounting Scandals
Violation Description: J.P. Morgan Chase and Citigroup agreed to pay $25 million each, split evenly between the State of New York and the City of New York, in settlement of allegations they structured loans to Enron Corp. as complex commodity transactions, enabling Enron to fraudulently hide billions of dollars in debt.
Level of Government: local
Action Type: agency action
Agency: Manhattan (NY) District Attorney
Civil or Criminal Case: civil
Private Lawsuit Resolution Type: settlement
Facility State: New York
Facility County: New York
Facility City: New York
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)
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.