Citigroup plunges into battle after transferring $900 million in 'clerical error'

In a major blunder, the Citigroup approved the transfer of a whopping $900 million to Revlon Incorporation. Citigroup later told the lenders of the troubled cosmetics giant controlled by billionaire Ron Perelman that it was a 'clerical error'. The bank is now struggling to get the money back from Revlon. This is one of the biggest blunders made by the New York bank in its history. CitiBank is yet to comment on it.