{"id":4629,"date":"2008-07-02T14:53:22","date_gmt":"2008-07-02T14:53:22","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2008\/07\/citigroups_smith_barney_draws"},"modified":"2022-03-29T15:19:36","modified_gmt":"2022-03-29T20:19:36","slug":"citigroups-smith-barney-draws","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/citigroups-smith-barney-draws\/","title":{"rendered":"Citigroup\u2019s Smith Barney Draws Ire of Investors and Its Own Brokers Over ASTA\/MAT and Falcon Funds"},"content":{"rendered":"

\t\t\t\tCitigroup<\/a> is offering to cover some of the losses of investors involved with certain hedge funds sold by the firm’s Smith Barney brokerage unit. Citigroup and Smith Barney brokers allegedly recommended the funds, ASTA\/MAT and Falcon, to investors looking for conservative investments.<\/p>\n

Citigroup marketed the hedge funds as being ideal for retirees and other investors seeking safe investments, and Smith Barney<\/a> raised hundreds of millions of dollars for the funds. The funds were reportedly marketed to investors as low-risk and accompanied by only a minimal probability of loss when, in fact, they came with high levels of risk-information that was kept from investors.<\/p>\n

Last year, Citigroup told Smith Barney and Citigroup bankers to market the funds to their best clients. These clients were not informed that the new pitch initiative was an effort to inject new funds into Falcon, which had dropped by over 10%. The fund would be worth 25% of its original value by the end of March 2008.<\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

Citigroup is offering to cover some of the losses of investors involved with certain hedge funds sold by the firm’s Smith Barney brokerage unit. Citigroup and Smith Barney brokers allegedly recommended the funds, ASTA\/MAT and Falcon, to investors looking for conservative investments. Citigroup marketed the hedge funds as being ideal for retirees and other investors […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3820,3802],"tags":[],"class_list":["post-4629","post","type-post","status-publish","format-standard","hentry","category-citigroup","category-smith-barney-citigroup"],"yoast_head":"\nCitigroup\u2019s Smith Barney Draws Ire of Investors and Its Own Brokers Over ASTA\/MAT and Falcon Funds — Investor Lawyers Blog — July 2, 2008<\/title>\n<meta name=\"description\" content=\"Citigroup is offering to cover some of the losses of investors involved with certain hedge funds sold by the firm's Smith Barney brokerage unit. 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