There is hardly any data on this firm, web is sort of clean on the agency, with a single exception: Has anyone received any expertise of a monetary providers agency referred to as Citi-solutions. They are a part of the ever-present Citigroup one way or the other? Many thanks (1)
So what it’s, or what was it?
On the rich south coats in Spain it was not arduous to seek out them; a franchise group the place you needed to work by yourself account, open an workplace and promote Citi merchandise.
The entire factor began with a presentation (solely on paper, with the Citi Logo all around the papers and rising graphs) from somebody already within the community and you can both purchase their pension answer (an annual fee of return of about 10% greater than the custom “savings banks” only for the easy cause of the large sturdy model title: Citigroup.
Another chance was to hitch them within the franchise formulation and promote the merchandise; beginning with the folks you already know to constructing your individual community. The fee construction was based mostly on this type of a pyramid: you obtain fee from the merchandise you promote in addition to from the folks under in your community. The sooner you began the better and extra worthwhile.
The barrier was low, monetary data wasn’t required so long as you added some cash and attended a coaching session.
Strange that I even considered calling it a fraud. I checked the web by the point, however I used to be knowledgeable by the particular person giving the presentation: “internet is not our strategy and where are not allowed to use the name or logo of Citigroup on our franchise formula.” Citi-solutions had solely a hotmail deal with. Common sense stated that was too good to be true, however as I declined to hitch them I forgot about it the very subsequent second.
Now recalling that this was just a few years in the past – imagining that this apply has stopped – I understand what a fraud this will need to have been. But it appeared so regular, and folks stepped in, because it was simply one other monetary service.
It is (was) all within the energy of a model title. Citigroup had a fairly secure inventory quote of about 50 $ from 2005 till someplace 2007. (Only) then it went downwards exhibiting 2.52 $ in the mean time (25th of February).
If Citi will survive as a non-public firm, they could take into account a brand new emblem, eliminating the umbrella which is perhaps related to the pyramid.
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