Why Citi was sleeping when they say “Citi Never Sleeps” ?

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Hi Friends, “Citi never sleeps” is the famous campaign of the Citi bank. But then, it was sleeping like "Kumbhakarna" for almost a year. If I believe news reports, a Citibank employee and his accomplices were investing monies – almost Rs 400 crore – of high net worth individuals through brokerage houses for a while now. Corporate houses like the Hero group and 20-odd people invested in schemes which were sold to them by showing them forged letter of the market regulator, Sebi. While the bank may argue that bigger scams have taken place all across the world, including India. But one would expect the bank of this size – another Kumbhakarna feature – to have better due diligence systems. Aren’t there supposed to be quarterly audits, at least? How do they prepare their results otherwise? It is slightly difficult to believe that there only one person involved. If the employee was issuing cheques on the behalf of a client, there had to be a second signature. It is easy to understand that the clients were offered super normal returns (high returns at higher risks) and they fell for it. No wonder, they are cheated often because they do not understand the nuances of the product. But can a bank, which is supposed to be specialising in these things, plead not guilty of the same? Can Rs 400-crore be diverted/ invested by one person without any scrutiny? I think bank is also involved in all these activities. What do you say?