Citigroup head to be investigated

Citigroup chairman and chief executive Sanford Weill today denied a newspaper report saying that state prosecutors informed Citigroup that the interests of Weill and Citigroup have diverged and that Weill could face legal action.

The Wall Street Journal reported that the New York attorney general's office will question Weill after gathering new evidence in its investigation of the company's research practices.

The Journal said the move signals that the attorney general's office could be considering legal action against Weill personally, in addition to Citigroup, according to people familiar with the matter.

In a statement, Weill said that as part of an ongoing cooperation with various regulatory inquiries, he had expected that New York State Attorney General and other regulators would want to hear from him personally and that he volunteered to testify.