Investigation: Citi and the Mexican millions

For a year the US Justice Department has been investigating whether or not Citibank violated federal money-laundering statutes through its private banking relationship with Raul Salinas de Gortari. Now the big question is looming: will Citibank, the banking unit of Citicorp, be indicted or, at the very least, end up paying a big fine?

Neither Citibank nor the Justice Department’s southern district of New York, which is handling the investigation for the government, is talking. But individuals close to Citibank believe the feds are “trying their damnedest and not coming up with anything”.