Even Citadel gets defrauded

Wed Feb 1, 2006

A small and long-since soured loan made by Ken Griffin's Citadel Investment has returned to haunt the press-averse firm in news coverage of the influence-peddling scandal involving Washington lobbyist Jack Abramoff.

The deal dates back to 2000, but it came to light again last month when Abramoff pled guilty to wire and mail fraud aimed at tricking Citadel and another lender, Foothill Capital, to put up $60 million to help finance his purchase of the SunCruz Casino fleet of offshore gambling boats.

Abramoff's January 4 guilty plea came somewhat in the shadow of a related plea that Abramoff made the day before, in which he admitted...

ISSN: 2151-1845 / CDC10004H


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