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Citi loses 500 $ million in judgment due to a clerical error

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A New York judge said on Tuesday that creditors who mistakenly received a payment from the US financial giant last August were not obligated to make the payment.

“To believe that Citibank, one of the most sophisticated financial institutions in the world, made a mistake that had never happened before, to the tune of almost $ 1 billion, would have been bordering on irrational” , Judge Jesse Furman said in a landmark decision.

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