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Tom Hayes (born October 1979 [1]) is a former trader for UBS and Citigroup who was convicted for conspiracy to defraud and sentenced to 14 years in prison (reduced to 11 years on appeal) for conspiring with others to dishonestly manipulate the London Interbank Offered Rate [2] as part of the Libor scandal.
By 4 July 2012, the breadth of the scandal was evident and became the topic of analysis on news and financial programs that attempted to explain the importance of the scandal. [54] Two days later, it was announced that the UK Serious Fraud Office had also opened a criminal investigation into manipulation of interest rates. The investigation was ...
A pair of government regulators slapped Citigroup with a $135.6 million fine on Wednesday, saying the bank has made insufficient progress in resolving longstanding internal control and risk issues.
Citigroup Inc. or Citi (stylized as citi) is an American multinational investment bank and financial services company based in New York City. The company was formed in 1998 by the merger of Citicorp, the bank holding company for Citibank , and Travelers ; Travelers was spun off from the company in 2002.
A federal appeals court on Tuesday said a Citigroup vice president was not entitled to a share of a $400 million civil fine that the bank agreed to pay in October 2020 over its risk management ...
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The forex scandal (also known as the forex probe) is a 2013 financial scandal that involves the revelation, and subsequent investigation, that banks colluded for at least a decade to manipulate exchange rates on the forex market for their own financial gain.
Regulators slapped Citigroup with $136 million in fines for failing to resolve long-standing deficiencies surrounding controls and risk management, a setback for CEO Jane Fraser as she tries to ...