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| UPDATE 7-Citigroup reports fraud in Taiwan Mexico unit, lowers 2013 results | | | (Adds FBI monitoring situation in paragraphs 9-10) By David Henry and Elinor Comlay NEW YORK/MEXICO CITY, Feb 28 - Citigroup Inc said on Friday that it has discovered at least $400 million in fraudulent loans in its Mexico subsidiary and said employees may have been in on the crime. The bank wrote down bogus loans to a company whose assets Mexican law enforcement officials have now seized. Citigroup's 2013 profit fell by $235 million to $13.67 billion after the write-down. |
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