Word: elliott
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Dates: during 1990-1999
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...then the largest merger in history, creating a $751 billion financial colossus, a piece of unfinished business kept resurfacing like a bad odor amid the celebrations and predictions of imminent world dominion. This was the so-called Salinas affair, the curious tale of how a resourceful Citibanker named Amy Elliott helped Raul Salinas move some $100 million into untraceable accounts owned by offshore "trusts" that were in turn owned by dummy corporations in the Cayman Islands...
...questions about the GAO report. He said, without citing specific examples, that the report "contains errors of fact and interpretation" and that "it ignores recent progress in strengthening law and industry procedures, which Citibank strongly supports in keeping with our commitment to combat money laundering." Citibank declined to make Elliott available for comment but has in the past denied that she or the bank violated any laws. She remains a Citibank employee in good standing...
...Elliott was not your garden-variety Citibanker, setting up checking accounts or making business loans. She worked for the vaunted Private Bank, a highly confidential bank within the bank that provides white-glove service to clients with at least $1 million to invest. While this might seem to be an obscure part of Citibank--and indeed it was until just a few years ago--it is now the crown jewel in the financial giant's strategy for growth. That strategy calls for Citibank and its parent, Citigroup, to reduce their reliance on cyclical corporate and real estate lending, which tends...
...problem for Amy Elliott at Citibank was not so much what she did but whom she did it for--at least in the view of the Mexican authorities who have brought criminal charges against Raul Salinas. In addition to getting Salinas Broadway theater tickets and managing his portfolio, she employed sophisticated asset-concealment techniques on his behalf. These techniques are used quite legally by wealthy individuals--say, a surgeon who wants to secure her life savings from potential malpractice suits or an estranged husband. Elliott was helping Salinas conceal his large transfers out of the country ostensibly because...
...story is much the same for Vancy Elliott and her husband Delmer, who live about three miles from Guymon and whose land abuts a Seaboard hog farm. "We have to put flytraps out in the summer," says Elliott. "But we even have flies occasionally in the winter now, and we've never had that before. Rats and mice are a real problem because they have so many pigs that are dying...