Ex-Citigroup VP's $22M Looting Scheme Earns Him 8 Years

Law360, New York (June 29, 2012, 6:58 PM ET) -- A former Citigroup Inc. vice president who pled guilty to looting $22 million from his employer's accounts was sentenced Friday in New York to eight years in prison.

U.S. District Judge Eric N. Vitaliano sentenced Gary Foster, 35, to 97 months in prison after he copped to one count of bank fraud in September, a crime that carried a maximum prison sentence of 30 years, prosecutors said.

Foster, who supervised the derivatives unit in the bank's internal treasury finance department and worked out of Citi's glass...
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