The Meissner firm is currently investigating the sale of ASTA and MAT funds to investors by Citigroup through the use of fraudulent misrepresentations. THE ASTA and MAT funds, which consist of six hedge funds that were sold by Citigroup, have lost more than 90% of their value to date as a result of the recent credit crisis. Citigroup promoted these investments as safe and conservative investments – alternatives to traditional bond funds that were designed to produce tax-advantages and reliable cash flows. Moreover, investors would be exposed to minimal risks. In actuality, Citigroup took on a risky investing strategy known as municipal bond arbitrage, which involved borrowing approximately $8 for every $1 raised and collected millions of dollars in fees and unexplained commissions in the process.