Lies and fraud alleged in EMI deal

The opening statements in the legal battle between Guy Hands, of private equity firm Terra Firma, and Citigroup over the $6.4 billion buyout of music giant EMI were filled with allegations of fraud and lies. Hands is accusing banker and former friend David Wormsley and Citigroup of duping him into thinking there was a rival bid for EMI when he bought it back in 2007.

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