Citigroup has decided that it will pay $75 million to settle federal claims that came up because of the sub-prime crisis. It is paying since the bank failed to disclose vast holdings of sub-prime mortgage investments.

These are the investments are the once that are said to have crippled the bank. Events go back to 2007 when the bank had reported losses in millions. A year later, it was rescued by the government.

While this incident is not the first and the only one of its kind, this is the first time that the SEC has brought charges against high ranking executives who are said to have been a part of the crisis.

The charges are against two Citigroup executives- Gary L. Crittenden, the former chief financial officer, and Arthur Tildesley Jr., the former head of investor relations. The complaints against them were that they had not disclosed the real details to the shareholders.

While Crittenden is going to pay $100,000, the rest amount will be paid by Tildesley. As the customs goes, Citigroup has not accepted such accusations.

This is one of the many settlements that SEC has done in near past.