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  • Citigroup Inc. (NYSE:C) Hit by a Fraud of $80 million by an Employee - updated amount

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    Wednesday Dec 29, 2010 at 00:16 am EST
     
    Citigroup Inc. (NYSE:C) Hit by a Fraud
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    Citigroup Inc. (NYSE:C) has been hit by a huge fraud in India. Citibank (Citigroup Inc.'s Banking division) in Gurgaon  has found out a Rs. 4 billion (approx. $80 million) fraud and forgery by one of its staff at its retail banking unit.

    As per the report, the chief accused in the Fraud case is its relationship manager, Shiv Raj Puri,who was working as a Relationship Manager for the past 7-8 years.
    Shares of Citigroup Inc. (NYSE:C) closed at $4.78 on Tuesday below resistance level of $4.73. Major resistance points for Citigroup Inc.(NYSE:C) above Thursday's close are at $4.85 and $5.09. while major support levels for Citigroup Inc. below yesterday's close are at $4.39, $4.24, $4.12, $3.94 and $3.81.

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