US bank Citigroup agreed Thursday to pay a 75-million-dollar fine to settle charges it misled investors about exposure to subprime mortgage-related assets, the Securities and Exchange Commission said. Citigroup 'repeatedly made misleading statements in earnings calls and public filings about the extent of its holdings of assets backed by subprime mortgages,' the SEC said in a statement. During the mortgage crisis in 2007, Citigroup claimed that subprime exposure in its investment banking unit was 13 billion dollars or less, when in fact it was more than 50 billion dollars, the statement said. Citigroup, as well as one current and one former bank executive charged for their roles in making the misleading statements, 'agreed to settle the SEC's charges,' the commission said. The bank agreed to pay a 75-million-dollar penalty, while ex-chief financial officer Gary Crittenden agreed to pay 100,000 dollars, and ex-head of investor relations Arthur Tildesley, now head of cross marketing at Citigroup, agreed to pay 80,000 dollars. SEC officials lambasted Citigroup for giving 'half truths' and making 'a bad situation worse' at a time when investors were in dire need of accurate information during the 2007 mortgage meltdown, which led to the worst financial crisis in decades and sent the economy into a tailspin. 'Even as late as fall 2007, as the mortgage market was rapidly deteriorating, Citigroup boasted of superior risk management skills in reducing its subprime exposure to approximately 13 billion dollars,' said Robert Khuzami, director of the SECs enforcement division. 'In fact, billions more in CDO (or collateralized debt obligations), and other subprime exposure sat on its books undisclosed to investors,' he said. 'The rules of financial disclosure are simple -- if you choose to speak, speak in full and not in half-truths.' Scott Friestad, associate director of the SECs enforcement division, said Citigroup's 'improper disclosures' came at a critical time when investors were clamoring for details about Wall Street firms exposure to subprime securities. 'Instead of providing clear and accurate information to the market, Citigroup dropped the ball and made a bad situation worse,' he said. Citigroup confirmed in a statement that it had 'reached a settlement' with the SEC regarding subprime disclosures it had made. The SEC, it said, 'is not charging Citi or any individual with intentional or reckless misconduct. 'Citi settled the matter without admitting or denying the SEC's allegations.' 