Estate of Carlo Palazzi

Citibank (Bahamas) Ltd. is being sued in New York by three Italian nationals who claim they have been cheated out of more than $1 million.The dispute relates to the Estate of Carlo Palazzi, a client of Citibank's New York and Bahamas operations who died on May 13, 2000.Silvio Villa, Michelina Capasso and Pierangela Melis, all of Rome, Italy, claim that Palazzi made them his beneficiaries in a hospital bedside telephone call to Citibank just four days before he died.