The Trump administration ordered Citibank to freeze a $20 billion slush fund for pop-up climate groups provided by then-lame-duck President Joe Biden’s Environmental Protection Agency because it is tied up in a criminal investigation, according to a Wednesday court filing.
Attorneys for Citibank revealed in a federal court filing that the financial institution had “been instructed by EPA and the Department of Treasury to pause all further disbursements” from a Biden-era Greenhouse Gas Reduction Fund.
The billions of dollars went out the door in the final months of the 46th president’s tenure — but have been parked at the bank since President Trump took office.
According to the attorneys, the Trump administration revealed that the greenhouse gas fund was “subject to an ongoing criminal investigation” and they had been asked by the FBI to freeze the disbursement for at least 30 days due to “credible information” about “possible criminal violations.”
“Citibank desires nothing more than to fulfill its contractual obligations. Citibank will continue those efforts and, of course, will follow any court order,” the attorneys wrote in the filing in DC US District Court.