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For Crittenden - a bad time to be at Citigroup
July 30, 2010
Gary L. Crittenden, the former chief financial officer of Citigroup, joined the bank in February 2007, a few months before the subprime mortgage crisis erupted, shaking the financial system. At the time he told The New York Times that this was "the best job I could ever imagine."
Three years later, it is probably safe to assume that Mr. Crittenden feels a bit differently about being the chief financial officer of Citigroup. He has agreed to pay a $100,000 fine to the Securities and Exchange Commission to settle claims that he violating federal disclosure rules. Citigroup itself has agreed to pay $75 million to settle claims that it failed to disclose roughly $43 billion in holdings of subprime mortgage investments that crippled the bank during the financial crisis.
Original Posting At: NYTimes
Three years later, it is probably safe to assume that Mr. Crittenden feels a bit differently about being the chief financial officer of Citigroup. He has agreed to pay a $100,000 fine to the Securities and Exchange Commission to settle claims that he violating federal disclosure rules. Citigroup itself has agreed to pay $75 million to settle claims that it failed to disclose roughly $43 billion in holdings of subprime mortgage investments that crippled the bank during the financial crisis.
Original Posting At: NYTimes
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