Tweet
Former Citigroup banker charged with stealing $19m from bank
Originally posted by 5corpio
And Banks & Banking wants us to trust them....!
A former executive at Citigroup has been charged with stealing more than $19m (£12m) from the US bank in the “ultimate inside job”, according to government prosecutors.
Gary Foster was arrested on Sunday morning at John F. Kennedy Airport after returning to New York on a flight from Bangkok.
Mr Foster, who worked in the company’s internal treasury department, is accused of wiring $19.2m from Citi’s accounts to his own personal account at JPMorgan Chase between May 2009 and December 2010.
Citi, one of America’s biggest banks, did not notice the wire transfers until a “recent” audit of its internal audit department, prosecutors said.
Working out of Citi’s office in Long Island City, Mr Foster is alleged to have put his name on all the wire transfers and used deal or contract numbers designed to show the transfers related to existing Citi operations.
Mr Foster pleaded not guilty to the charges in court on Monday, according to his lawyer, Isabelle A. Kirshner, who added that her client returned voluntarily to the US when he learned authorities were...Read more on story: Former Citigroup banker charged with stealing $19m from bank - Telegraph
Previous Headlines of Citigroup, computers been hacked: Click Forum Link allaboutFORUMS - View Single Post - Latest Headline News (Media)
Gary Foster was arrested on Sunday morning at John F. Kennedy Airport after returning to New York on a flight from Bangkok.
Mr Foster, who worked in the company’s internal treasury department, is accused of wiring $19.2m from Citi’s accounts to his own personal account at JPMorgan Chase between May 2009 and December 2010.
Citi, one of America’s biggest banks, did not notice the wire transfers until a “recent” audit of its internal audit department, prosecutors said.
Working out of Citi’s office in Long Island City, Mr Foster is alleged to have put his name on all the wire transfers and used deal or contract numbers designed to show the transfers related to existing Citi operations.
Mr Foster pleaded not guilty to the charges in court on Monday, according to his lawyer, Isabelle A. Kirshner, who added that her client returned voluntarily to the US when he learned authorities were...Read more on story: Former Citigroup banker charged with stealing $19m from bank - Telegraph
Previous Headlines of Citigroup, computers been hacked: Click Forum Link allaboutFORUMS - View Single Post - Latest Headline News (Media)