SEC Probes Citigroup Bond Funds

by Hugh Collins on Nov.08, 2010, under Towing

The SEC subpoenaed several former in-house brokers as part of an investigation of Citigroup (C) debt funds.

The funds in question borrowed heavily and invested in mortgage bonds and municipal bonds, The Wall Street Journal said without naming its sources. The funds’ value slumped by as much as 77% during the financial crisis, leading Citigroup to offer share buybacks that would reduce investor…

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SEC Probes Citigroup Bond Funds originally appeared on DailyFinance on Mon, 08 Nov 2010 07:19:00.

Filed Under: Company News, Citigroup, Market News