"Citibank can't get back $500 million it wired by mistake, judge...

"Citibank can't get back $500 million it wired by mistake, judge rules. CNN Business Reports: Aftercommitting one of the "biggest blunders in banking history," Citibankwon't be allowed to recover the almost half a billion dollars it accidentallywired to Revlon's lenders, a US District Court judge ruled.

Citibank, which was acting as Revlon's loan agent, meant to send about$8 million in interest payments to the cosmetic company's lenders. Instead,Citibank accidentally wired almost 100 times that amount, including $175 million to a hedge fund. In all, Citi (C) accidentally sent $900 million to Revlon's lenders.

Some lenders did return the money, but others did not. Citibank filed alawsuit in August seeking the return of its funds, but it still has notreceived $500 million from 10 investment advisory firms after the accidentaltransfer."

So although I agree with everyone's sentiments regarding the way CAN were ripped off $3.6M which still pisses me off, Citibank's $500M blunder makes CAN look like monetary wizards by comparison.

If you want to read more go to the link: https://edition.cnn.com/2021/02/16/business/citibank-revlon-lawsuit-ruling/index.html