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The FBI and the U.S. attorney’s office in Manhattan have opened up an investigation into a recent $400 million fraud involving Citigroup’s Mexico unit. The news comes just one week after the Federal Reserve rejected Citigroup’s attempt to increase its dividend, and the bank is also under investigation in Massachusetts for accusations that it lacks proper safeguards against laundering drug money. The issue of the fraud in Mexico was disclosed by Citigroup in February after it was uncovered that at least one Banamex (its Mexican unit) employee used false documents to help an oil-services company get a loan that could not be repaid. The SEC is also pursuing a parallel civil investigation.