Ex-Citigroup Executive Gets 8 Years for Embezzlement
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Former Citigroup Inc. Vice President Gary Foster was sentenced to 97 months in prison for embezzling almost $23 million from the bank, according to federal prosecutors in Brooklyn, New York.
Foster pleaded guilty to bank fraud in September, admitting that he transferred money from various Citigroup accounts to his own at JPMorgan Chase & Co. He concealed his activities by making false accounting entries, according to the government.