09:13 AM EDT, 07/19/2024 (MT Newswires) -- (Adds statement from Citi in third paragraph.)

A former Citigroup (C) managing director who claimed to have been fired after she refused to mislead a federal regulator about the bank's risk management said that Citigroup's ( C ) chief operating officer of intentionally planning to deceive regulators, Reuters reported late Thursday.

Kathleen Martin in an amended lawsuit said Chief Operating Officer Anand Selva "wanted to misreport" the bank's metrics to falsely show the Office of the Comptroller of the Currency that it was complying with its $400 million 2020 settlement agreement over risk management shortfalls, the report said.

"Ms. Martin's employment was lawfully and legitimately terminated. Her claims to the contrary have no merit and we intend to defend against them in court," a Citi spokesperson said in a statement to MT Newswires.

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