Weekly Roundup: Citi’s Banamex Troubles Draw Criminal Probe, Credit Suisse Raises Estimate of U.S. Settlement, and More

Federal officials have launched a criminal investigation into the purported $400 million fraud tied to Citigroup's Mexico-based Banamex, The New York Times reported, citing individuals briefed on the matter. The investigation into whether Citigroup ignored warning signs of the fraud that arose in its anti-money laundering unit is led by the FBI and federal prosecutors in New York. More Credit Suisse has set aside an additional 425 million Swiss francs ($480 million) for a potential settlement with the United States that could cost a total 895 million francs, Reuters said. The bank, which has been accused by U.S. officials of...