Why Did Banamex Grant $400M Loan To Oceanografía? Analysts And Citigroup Former Employee Weigh In On The Citigroup Fraud Scandal

MEXICO CITY -- Citigroup Inc. (NYSE:C), the third largest banking group in the U.S., announced in late February that it was revising its Q4 2013 profits, which resulted in a $235 million net reduction. Citigroup disclosed that it had revised its numbers after investigating its Mexican unit, Banamex, and a transaction with a Mexican company, which found a $400 million gap in one of the accounts.