Citigroup (C) started two hedge funds last year and sold interests in them to well-off retail investors. What those people were not told is that the investments were risky. Now, Citi is giving some of that money back.
Cit brokers, from the Smith Barney division, misled some of the poor souls who put up their cash. The retail brokerage operations "drummed up hundreds of millions of dollars from retail clients, including some who were told the fixed-income funds were a safe place to stash money," according to The Wall Street Journal.
Never give a sucker an even break, never wise up a chump.
Douglas A. McIntyre
Take This Retirement Quiz To Get Matched With A Financial Advisor (Sponsored)
Take the quiz below to get matched with a financial advisor today.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Take the retirement quiz right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
