Citigroup mocked by asset managers on $900-M error: 'Take the money and run'
December 16, 2020 | 12:03 am Font Size AAA RECIPIENTS of Citigroup, Inc.âs $900-million error couldnât help but mock the bank â and that could help it get the money back. As it fights to recover funds it sent Revlon, Inc. lenders in August, Citibank is working to convince a judge that the 10 asset managers itâs suing knew the payment was a mistake. At a trial on Monday, lawyers for the bank cited electronic chats between employees of some of the investment firms as evidence. âI feel really bad for the person that fat-fingered a $900-million payment,â a v...
Source: bworldonline.com