The Citi That Slept?

Number 15038
Subject Banks
Source Business Week
State
Year 1998
Publication Date Nov. 1, 1998; Dec. 14, 1998
Summary In the early 1990s, Citibank helped Raul Salinas, brother of the former president of Mexico, move more than $90 million out of Mexico to Swiss bank accounts. Business Week investigated and found that Citibank has performed similar services for wealthy clients around the world. The bank appears to avoid the spirit of the money-laundering laws in an effort to boost profits.
Category Contest Entry
Pages 9
Keywords Finance;Federal investigation;Government
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