Former Citigroup employee charged with fraud

Citigroup Center in New York

Former Citi employee Gary Foster has been charged with bank fraud for allegedly embezzling $19.2 million from the firm. Foster, a former vice-president of Citigroup’s treasury finance department, is alleged to have transferred money from various Citigroup accounts into Citigroup’s cash accounts. He then transferred this money into his own account at a different bank.

Foster is alleged to have moved the money between July and December 2010. Approximately $900,000 was moved from Citigroup’s

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