Citi oversaw $1B for U.S. trust tied to Russian oligarch, Bloomberg says

Citi (C) oversaw over $1B worth of transactions for a Delaware-based trust that U.S. authorities say a sanctioned Russian oligarch held a concealed stake in, Katrina Manson of Bloomberg reports, citing documents reviewed by Bloomberg News. The bank set up Heritage Trust in July 2017 with money that originated from billionaire Russian Senator Suleiman Kerimov, who was subsequently sanctioned by the Treasury Department in April 2018, Bloomberg says.