JP Morgan Chase and Citigroup have agreed to pay more than $US300 million ($A454 million) for their roles in Enron's manipulation of its financial statements. Morgan will pay $US135 million ($A204 million) and Citigroup $US120 million ($A181.6 million) as part of the settlement, the Securities and Exchange Commission said. The Citigroup payment includes $US19 million ($A28.8 million) to settle charges it helped Dynegy Inc manipulate its financial statements. In addition to the federal payments, the two banks agreed to pay a total of $US50 million ($A75.7 million) to the state and the city to settle a similar investigation, the Manhattan district attorney's office announced shortly after. The SEC said most of the money would go to victims of Enron's massive corporate fraud - the first in a string of scandals that have tainted corporate America since 2001.