Aug 20, 2015

Mexican Billionaire’s Firms Swept Up in U.S. Probe of Citigroup

Bloomberg: The U.S. Justice Department is looking into Citigroup Inc.’s dealings with companies linked to Mexican billionaire Carlos Hank Rhon as part of an expanding investigation into the bank’s money-laundering controls.

In a subpoena issued earlier this year, U.S. officials asked Citigroup to provide information on accounts tied to four businesses affiliated with Hank Rhon, according to documents reviewed by Bloomberg. These include two units each of Grupo Financiero Interacciones SA and Grupo Hermes SA, which are controlled by Hank Rhon and his family. The Justice Department asked the bank to provide similar paperwork for a fifth firm, Banco Monex, that’s not connected to Hank Rhon; for a number of money-transfer businesses, and less-detailed information on more than a dozen other companies. Read more. 

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