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Citigroup's main bank unit seen as target for plea in forex case

Authorities want pleas from more important entities while companies prefer smaller units

Published Fri, Apr 3, 2015 · 09:50 PM
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New York

The US Department of Justice is pressing for Citigroup Inc's main banking subsidiary to plead guilty to a felony tied to the rigging of foreign-exchange markets, according to two people briefed on the matter.

Citigroup has countered with an offer that the plea come from a subsidiary that's smaller than the Citibank NA unit, the people said, asking not to be identified.

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