SEC May Sue Former Citigroup Executive

Victor Menezes, Citigroup Inc.’s former head of emerging markets, may face a federal insider-trading lawsuit over a $29.8-million stock sale 18 days before the world’s largest bank announced a $2.2-billion loss in Argentina.

NASD, formerly known as the National Assn. of Securities Dealers, released documents last week saying Menezes, 55, had received in August a formal warning from the Securities and Exchange Commission about a possible suit.

Menezes didn’t respond to an e-mail seeking comment.