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Federal Appeals Court Revives $1 Billion Lawsuit Against Citigroup Over Oceanografía Mexican Oil Services Fraud

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Published May 9, 2025, 08:52 PM

A federal appeals court has revived a $1 billion lawsuit against Citigroup Inc., requiring the bank to face claims from investors who allege it aided fraud involving Oceanografía, a Mexican oil services company. The case, connected to one of Mexico's largest financial scandals, accuses Citigroup of facilitating fraudulent activities that led to substantial investor losses. The decision to reinstate the lawsuit marks a significant development in the ongoing legal proceedings related to the Oceanografía scandal.

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#Oceanografía #Mexican #Mexico #Citigroup #Oceanografía scandal

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Sources

businessam.be news.bloomberglaw.com finance.yahoo.com

Business AM

@businessamnl

Citigroup faces $1 billion lawsuit https://t.co/JQv71rrnnh #Citigroup #rechtszaak #fraude #Oceanografia #bankzaken https://t.co/YxBVhHtksV

Bloomberg Law: Environment

@environment

Citigroup Inc. will have to face a lawsuit from investors who claim they lost more than $1 billion in a fraud involving a Mexican oil services company after a federal appeals court revived the case Thursday. https://t.co/lnL8EM0yFj

Forbes México

@Forbes_Mexico

⚖️ A court revives the lawsuit against Citigroup in the Oceanography case, one of the biggest financial scandals linked to Mexico. https://t.co/QAe8qFaHnP

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