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Citibank for Trial on Colombian Hedging Scam Gets In Internal Audit & Dolly of Bottled Water

By Matthew Russell Lee, Patreon Maxwell Book
BBC - Honduras - CIA Trial Book - NY Mag

SDNY COURTHOUSE, August 19 –     Colombian sugar producer Mayaguez sued Citibank for ripping it off on hedging transactions. Now the case is coming to trial, albeit a bench trial. 

 On August 19, 2022 U.S. District Court for the Southern District of New York Judge Paul G. Gardephe held an in-person final pre-trial conference with a dozen lawyers, most of them for Citibank. Inner City Press went and covered it.  

The plaintiff is represented by Quinn Emanuel, which made a point that they had tried to bring a few lawyers as possible. The Citigroup team from Shearman & Sterling took up half of the gallery (the rest was empty, other than Inner City Press).

   In preparation for the bench trial, Team Citibank sought and obtained an order to allow them to bring in trial supplies, small dolly, sealed water bottles to and from the courtroom. There is a separate order for technological equipment.   

 Mayaguez filed a motion in limine to exclude evidence about an internal audit. But it being a bench trial, the potential for prejudice is small. Judge Gardephe let it in.

The case is Mayaguez S.A. v. Citigroup Inc. et al., 16-cv-6788 (Gardephe)


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