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Former Citigroup VP Gary Foster Sentence to 8 Years for Embezzlement of $22 Million

Do you remember this case from last year? A former Citigroup vice president, Gary Foster has been sentenced in New York City to eight years in prison for embezzling more than $22 million.

Citigroup’s former VP Gary Foster, lived on a $100,000 annual income but apparently this was not enough for him. On Sunday, authorities arrested and charged him with embezzling at the time nearly $19.2 million in funds while working as an assistant Vice President for the Long Island City, Queens offices of Citigroup’s treasury department — where some of the bank’s own investments are managed. The amount has increased to $22 million after a more thorough search of misused funds.