Ex-Citi Veep Pleads Not Guilty To $19M Embezzlement

Law360, New York (June 27, 2011, 5:48 PM EDT) -- A former Citigroup Inc. vice president was released Monday on $800,000 bond after pleading not guilty in New York to bank fraud for allegedly looting $19.2 million from his employer's accounts in just a year and a half.

Gary Foster, 35, 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. His alleged scheme to transfer money from Citi accounts to his own personal JPMorgan Chase Bank NA account went undiscovered until Citi conducted...
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