Idiot Banker Wires Makeup Giant Revlon 500 Million Wants it back but Judge says NOT SO FAST!


(Reuters) – A federal judge on Tuesday said Citigroup Inc cannot recoup half a billion dollars of its own money that it mistakenly wired lenders of cosmetics maker Revlon Inc.

• The case stemmed from an incident where Citigroup, acting as Revlon’s loan agent, wired $893 million to Revlon’s lenders, appearing to pay off a loan not due until 2023.

• Citigroup had intended to send a $7.8 million interest payment, and blamed human error for the gaffe.


Citigroup loses its bid to recoup the $500 million it accidentally paid Revlon

Citi Loses Bid to Recoup Massive Mistake in Surprise Ruling


Citigroup had no immediate comment. Lawyers for the bank and for the asset managers did not immediately respond to requests for comment if anything changes we will update it here.

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