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Former Citigroup VP pleads guilty to bank fraud

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Gary Foster, a former Citigroup Inc. vice president accused of embezzling $22.9 million from the bank, pleaded guilty to one count of bank fraud in federal court in Brooklyn, New York.

Foster, 35, of Englewood Cliffs, New Jersey, was arrested in June at New York’s John F. Kennedy International Airport after returning from Bangkok. Foster, who worked in the bank’s treasury finance department, transferred money from various Citigroup accounts and ultimately to his own account at JPMorgan Chase & Co.

Full story: Ex-Citigroup executive Foster pleads guilty to bank fraud

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