Citigroup Ordered To Pay $3.1 Million For Broker’s Selling Away

Citigroup Inc (NYSE:C) was ordered by a securities arbitration panel to pay $3.1 million to an Orlando couple for not properly supervising a broker. Suzanne Barlyn in Reuters report the allegation relates to Citigroup Inc (NYSE:C)’s broker steering the couple to invest in a politician’s real estate developments. Lawsuit on Citigroup for real estate investments Orlando, Florida couple, Dr. Nasridin Madhany and his wife Zeenat Madhany, filed a case against Citigroup Inc (NYSE:C) in 2010, alleging the bank showed negligence, fraud and other misdeeds involving over $1 million in real estate investments made between 2004 and 2007. The Financial Industry Regulatory…