High-Flying Citigroup Executive Allegedly Robs His Bank with a Computer

A former executive with Citigroup may be headed to prison, after being accused of stealing over $19.2 million from the bank.  Gary Foster, 35, is being accused of engaging in a series of money transfers that allowed him to pillage his former boss over a period of time.

Foster surrendered to authorities at John F. Kennedy International Airport after arriving home on a flight from Bangkok.  He was released on $800,000 bond and appeared in federal court in Brooklyn to face charges.  He is being charged with bank fraud, with a possible maximum sentence of 30 years in prison.

His defense attorney, Isabelle Kirshner, said that Foster was cooperative with authorities.

“As soon as he became aware they were looking for him, he voluntarily contacted the FBI and arranged to return,” Kirshner said.

Foster served as vice president of the treasury department at Citigroup before leaving the company in January.  His former bank has stated that they are  “outraged by the actions of this former employee” and hoped to see him “prosecuted to the full extent of the law.”

A prosecutor for the government said that Foster “used his knowledge of bank operations to commit the ultimate inside job,” U.S. Attorney Loretta Lynch said in a statement.

In one transaction that took place in November, 2010, Foster allegedly wired $3.9 million from a Citigroup fund in Baltimore to his personal account in New York.   The transactions weren’t noticed until an internal audit took place within the company.

 

  • http://twitter.com/womenforaction Julene AllenDellAmor

    It appears he got away with it for a while and just got greedier. Greed sure makes the brain malfunction.

  • http://www.facebook.com/people/Shakka-Zulu/1379420279 Shakka Zulu

    I guess moving to Thailand the child sex capital of the world was supposed to give him cover…You can also become broke at the keystroke of a computer keyboard…You could go to bed a millionaire and wake up in the morning broke..Ask Gaddafi who has not left Libya, but all his assets are frozen…In this age of electronic tracking, every time you swipe your debit/credit cards, Homeland Security and FBI can get real time tracking of your wearabouts…This is the main reason we all have drivers license with the enhanced barcode stripe that can also track you…If you plan on committing any crimes, leave you DL, cellphone and any trackable devices at home…This country/world is fast becoming like Minority Report the movie as well as George Orwell’s 1984… 

  • Anthony II

    Whenever I hear anyone rant about how great a country America is, and it’s been a while,  I have to ask myself “What Country are they talking about?”
    Don’t get me wrong now as I don’t believe in throwing the baby out with the bath water.  There are people I know who are truly the salt of the earth, awesome human beings, but if these wars, for example, are supposed to keep us “safe” from terrorists, who the heck is keeping us safe from these white collar, home grown “thugs” who openly operate and drive those institutions, be they political, corporate, religious, academic, etc. that this country  supposedly built its reputation on.  Oh, maybe that’s the issue.  From day one, it’s been a matter of, to paraphrase Shakespeare,  “A thug by any other name”.  I just don’t know how I can help these people anymore.    

  • Blackbullseye

    Do the crime you got to do the time, rich or not.  Somebody has to teach black males that when they get to a high income level or popularity – the bullseye is on them.