PracticeAccounting FirmsCitigroup settles Enron claim with $2bn

Citigroup settles Enron claim with $2bn

World's largest bank closes Enron chapter

Citigroup, the world’s largest banking group, has agreed to pay $2bn to investors who lost out as a result of Enron’s collapse.

Link: Enron finance executive jailed for fraud

The bank released a statement today saying it was settling a class action laid against it by investors in the energy giant.

Investors had accused Citigroup of helping Enron to engineer accounting frauds at the group.

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