Those losses eventually lead to the financial titan toreceiveing $45 billion in government bailout funds. Citigroup in July agreed to pay a regulatory penalty of $75 million to settle SEC allegations that it misled investors regarding the extent of its exposure to subprime mortgages in 2007. The SEC alleged that: "Between July and mid-October 2007, Citigroup represented that subprime exposure in its investment banking unit was $13 billion or less, when in fact it was more than $50 billion. The SEC also fined two former executives -- Gary Crittenden, its chief financial officer at the time and Arthur Tildesley, Jr., who served as head of investor relations at the time and is now the head of cross marketing at the company. Crittenden was fined $100,000, and Tildesley was fined $80,000. According to Bloomberg, a U.S. District judge asked the SEC last month to identify which senior executives knew of the problems before Citigroup's settlement with the SEC is approved.