Criminal probe on Citigroup deals

Subject: Criminal probe on Citigroup deals Tue Nov 06, 2007 7:49 pm

If any of this proves true the U.S. economy is in for the worst fall ever experienced. Heed this warning and start stockpiling supplies now.

Quote :: Criminal probe on Citigroup deals

Traders at US banking giant Citigroup are facing a criminal investigation in Germany over a controversial bond deal.
The deal saw the sale of 11bn euros ($14.4bn; £7.6bn) of government bonds in a few minutes on 2 August, with 4bn euros-worth then bought back later.

The move was widely criticised at the time, and now the German regulator has said it has found evidence of possible market manipulation.

Citigroup said it would continue to co-operate fully with the authorities.

"We are disappointed that the BaFin has referred to the prosecutor the question of whether action should be brought against individuals involved," Citigroup said.

If the traders are found guilty, they could face a five-year jail term or a fine, Reuters reported BaFin as saying.

However, under German criminal law, prosecutors cannot pursue Citigroup itself.

Investigation

"We found clues of possible market manipulation"
BaFin spokeswoman

Germany's financial watchdog BaFin told BBC News it had now transferred the investigation to the public prosecutor.

"I can confirm that BaFin has passed through the case to the public prosecutor," a BaFin spokeswoman said.

"It is now a criminal investigation."

"We found clues of possible market manipulation," the spokeswoman said, which included signs of linked bond trading ahead of the main trades on 2 August.

"Germany's Securities Trading Act says that if BaFin finds such clues, it has to put the case in the hands of the prosecutor."

Regulatory investigations are still going on in France, the UK and elsewhere.

Some Citigroup operations elsewhere in the world came under regulatory criticism in 2004.

Its private banking operation in Japan was closed down by regulators in Tokyo after an "aggressive sales culture" led the bank to flout anti-money laundering rules.

http://newsvote.bbc.co.uk/mpapps/pagetools/print/news.bbc.co.uk/2/hi/business/4205019.stm

Subject: Re: Criminal probe on Citigroup deals Tue Nov 06, 2007 7:53 pm

This is very ominous. More on the condition of Citibank:

Quote :: The Jingoist

Thursday, November 1, 2007
Criminal collapse of Citibank and Morgan Stanley imminent

A stolen sum totalling $4.5 trillion (four and a half trillion American dollars) is being held illegally in a suspense account at Citibank’s offices at 399 Park Avenue, New York, USA.

The USA Treasury Secretary, Henry Paulson, is centrally involved in the administration of this theft. It is said that Paulson cannot now travel to Europe without being arrested. On Tuesday 20th October 2007, the Chinese authorities pressed Paulson to instruct release of the $4.5 trillion.

The money originally came from The People's Bank of China in June 2006, at the time when Henry Paulson took over as USA Treasury Secretary in Washington.

Also on Tuesday 30th October 2007, the Provost Marshal for the USA (Brigadier General Rodney Johnson), visited Citibank. Everything was set ready for payment of the $4.5 trillion to be made into the AmeriTrust Groupe securities account at Morgan Stanley at the latest by 6.00pm on Wednesday 31st October. This payment was not made.

Citibank and Morgan Stanley appear to be mired in a criminal conspiracy with the USA Treasury and the USA White House which will result in the arrest, in the USA, of William R. Rhodes (Chairman of Citibank), John Mack (Chairman of Morgan Stanley) and Henry Paulson (USA Treasury Secretary).

Now that this matter is in the public domain, it is possible that the affair will bring down not just Citibank and Morgan Stanley, but also the American Stock Market and the White House.

The $4.5 trillion is a key sub-component of the much larger NESARA programme shortly to be announced.

Posted by Patriot at 10:21 PM

http://vigilantjingoist.blogspot.com/2007/11/criminal-collapse-of-citibank-and.html

Subject: Re: Criminal probe on Citigroup deals Wed Nov 07, 2007 10:13 am

I just emailed this to democracynow.org to see if the'll do an investigation on this...it would be interesting to see if the'll pick it up!

Subject: Re: Criminal probe on Citigroup deals Wed Nov 07, 2007 10:17 am

Thank you so much Two. I do not know if there is any validity to this or not, but I am very concerned about The U.S. Secretary, Henry Paulson, being implicated in this. I wish somebody would look into this and let us know one way or the other. We have not heard anything mainstream concerning the seriousness of the CitiBank and Morgan Stanley matter.

Guest

Stocks plunge; Dow drops more than 360
By TIM PARADIS, AP Business Writer
8 minutes ago

NEW YORK - Wall Street suffered its second big drop in a week Wednesday, with investors worried about spreading fallout from the credit crisis at banks and about a dollar that just keeps getting weaker. The Dow Jones industrial average fell more than 360 points — just about matching its plunge of last Thursday.

A passel of worries tormented investors, including the dollar, which swooned amid speculation that China will seek to diversify some of its foreign currency stockpiles beyond the greenback. Meanwhile, a record loss from General Motors Corp. owing to an accounting adjustment further dragged on sentiment.

Oil traded above $98 per barrel for the first time before retreating, and gold pushed higher, moves exacerbated by an anemic dollar.

The 13-nation euro hit a fresh record against the dollar — rising to $1.4729 — before falling back. The dollar fell not only against the euro but in Asia following a report that a senior Chinese political figure said China should diversify its $1.43 trillion foreign exchange reserves into the euro and other strong currencies.

The euro's rally put it well above the $1.4554 the currency bought late Tuesday in New York. The previous record high, also set Tuesday, was $1.4571.

Financial stocks, battered in recent sessions by big write-downs by names like Citigroup Inc., fell again Wednesday amid fresh concerns about the extent to which bad debt tied to a faltering housing market will hurt balance sheets.

In late afternoon trading, the Dow fell 360.92, or 2.64 percent, to 13,300.02. The Dow, which had gained 117 points on Tuesday, had fallen 362.14 last Thursday, reflecting the extreme fractiousness on Wall Street these days.

Broader stock indicators also pulled back Wednesday. The Standard & Poor's 500 index fell 44.62, or 2.94 percent, to 1,475.65 — moving below the psychological benchmark of 1,500. The Nasdaq composite index fell 76.42, or 2.70 percent, to 2,748.76.