Citi Settles fraud charges for $285 million But....

In a nutshell Citi packaged up a bunch of mortagages together and sold them to investors.  At the very same time the Citi sales group was selling the mortgage / product another group within Citi was betting against the value of the product.  In shorthand; making money coming and going - leaving others holding the bag.

While Citi and its Regualator the SEC have ageed on a $285 million dollar settlement the Judge appears to question the s settlement which he has not yet signed off on. Citi may be getting off far to easy.  There is much more here. Stay tuned to see if the settlement sticks.

In the meantime if you have credit related questions we have answers at credit repair texas