Former Citigroup VP Pleads Guilty To $19M Fraud

Law360, New York (September 6, 2011, 1:21 PM EDT) -- A former Citigroup Inc. vice president pled guilty Tuesday in New York to looting $19.2 million from his employer's accounts in just a year and a half.

Gary Foster, 35, copped to one count of bank fraud before U.S. District Judge Eric N. Vitaliano. He faces up to 30 years in prison.

Foster, who supervised the derivatives unit in the bank's internal treasury finance department and worked out of Citi's glass office tower in Queens, N.Y., transferred money from Citi accounts to his personal JPMorgan Chase...
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