Citi in the clear after closing client accounts for “good reason”

8 July 2013 | 1 minute read

Citigroup’s private banking arm has been cleared of any wrongdoing after a former client alleged that the American wealth manager unfairly closed her accounts, subsequently demanding US$17.9 million in damages from liquidated currency positions. An ex-UBS client and Thai national, Natamon Protpakorn, first took Citigroup to court in 2005 alleging that its private banking arm persuaded her to invest in…

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