Citi under investigation for ties to Russian oligarch Kerimov, Barron’s reports

The DOJ, FBI, and IRS have been investigating Citi (C)group for the work it has done for a trust that holds the assets of Suleiman Abusaidovich Kerimov, a Russian official sanctioned by the U.S. government, Rebecca Ungarino of Barron’s reports. According to the a person with knowledge of the situation, the government agencies have been probing the matter, which centers on Citigroup providing services to Heritage Trust, which held the assets of Kerimov, an ally of Russian President Vladimir Putin who made his fortune in the Russian gold mining industry, for more than a year. The investigation also focuses on Citi’s financial compliance framework, such as the anti-money-laundering and client-vetting processes designed to prevent financial crimes, the report says.