Former Citigroup Insider Charged with Embezzlement

[Guest ValueCarl]

NEW YORK (Reuters) - A former vice president of Citigroup Inc was charged on Monday with embezzling more than $19 million from the company's accounts.

 

Gary Foster, 35, was arrested on Sunday at New York's Kennedy airport on a flight arriving from Bangkok, prosecutors said. He was scheduled to make his initial appearance Monday afternoon in Brooklyn federal court, where he would plead not guilty to the charges, according to his attorney, Isabelle Kirshner.

 

Between May 2009 and December 2010, prosecutors said, Foster transferred $19.2 million from Citigroup debt-adjustment and interest-expense accounts to his own personal bank account at JPMorgan Chase.

 

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