Twitter

10/24/2009-According to reports, Belgian prosecutors have claimed grievances from Citibank (NYSE:C) totaling 128 million euros on behalf "duped" Belgian customers who want repayment for high-risk failed financial products made by failed investment bank Lehman Brothers. L'Echo and De Tijd have both reported that the public prosecutor will say that Citibank's Belgian operations advised its clients with "false advertising" and "tricks" in order to sway unknowing clients to turn in their savings for high-risk products from the fallen US bank. According to the reports, the case will start December 1 at which time the prosecution will request Citigroup reimburse 4,000 affected clients with a total of $192 million USD, plus interest.

Contact Chip Brian

SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.TradeTheTrend.com.

Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at www.TradeTheTrend.com/signup.html