Joan Jeffrey v. Citigroup Global Markets (formerly known as Salomon Smith Barney)
(FINRA Arbitration No. 06-01388)
The Law Offices of Montgomery G. Griffin’s client, a retired woman from the Sacramento area, brought an arbitration against Citigroup Global Markets, Inc. (“CGMI” or “Citigroup”) alleging that Citigroup’s financial advisor had defrauded her, failed to construct a suitable portfolio, and failed to diversify her accounts, including her IRA retirement account. The award consisted of the entire net out-of-pocket losses she had incurred on her accounts combined.