NEW YORK/MEXICO CITY May 14 Citigroup has fired
11 more people, including four senior executives, after an
initial internal investigation found lax controls and bogus
loans at its Mexico unit, Banamex, according to an internal memo
sent to employees on Wednesday.
The fired employees, including two business heads in Mexico,
did not act to protect the bank from the fraud, Citigroup Chief
Executive Officer Mike Corbat said in the memo, which was seen
by Reuters. The bank has fired another employee in connection
with the investigation.
Further disciplinary action could be taken against other
employees as the investigation continues, the memo said.
(Reporting by David Henry in New York and Elinor Comlay in
Mexico City; Editing by Jeffrey Benkoe)