In November
1999, John Reed, then co-chairman of Citigroup Inc., told a U. S.
Senate hearing that Citibank's private bank had lapsed in handling
accounts of controversial figures, but that things had changed.
Excerpt:
The first question
Citibank should have asked is, 'Where did these [checks] come
from?'" says David Marchant,
publisher of Miami-based OffshoreAlert
newsletter. "Why on earth is Citibank doing business with
him?"
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