Citigroup under Investigation over Mexico Operations and Hewlett-Packard Gets Price Target Upgrade

Citigroup Inc. (NYSE: C) shares dropped after it was revealed that the U.S. is opening a criminal investigation into alleged fraud in the company’s Mexico operations. The investigation is over a $400 million deal linked to its Mexican unit, Banamex, where some falsified documents may have helped an oil services company get a loan it cannot repay. The FBI will oversee the investigation but Citi also faces a civil probe by the SEC. Citigroup Inc., a diversified financial services holding company, provides various financial products and services to consumers, corporations, governments, and