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mudd43

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mudd43

Re: None

Thursday, 10/21/2004 10:19:26 AM

Thursday, October 21, 2004 10:19:26 AM

Post# of 358440
FWIW from RB....

Citigroup Fires 3 Executives

Thursday, October 21, 2004; Page E02 (Wash. Post)

Citigroup fired three senior executives after a banking scandal in Japan. Deryck C. Maughan, a Citigroup vice chairman; Thomas W. Jones, chairman and chief executive of the global investment management division; and Peter K. Scaturro, head of Citigroup's private bank, lost their jobs. Japan last month ordered Citibank to close its private banking operations in the country. REGULATORS SAID CITIBANK EMPLOYEES FAILED TO PREVENT TRANSACTIONS THAT MAY HAVE BEEN LINKED TO MONEY LAUNDERING, EXTENDED LOANS USED TO MANIPULATE PUBLICLY TRADED STOCK AND MISLED CUSTOMERS ABOUT THE RISK OF SOME [INVESTMENT] PRODUCTS.



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