Foster pleads guilty to $22m fraud

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A former vice-president of Citigroup's treasury finance department has pleaded guilty to embezzling $22 million from his former employer.

Gary Foster was charged with the bank fraud in June. For more than seven years he transferred money from various Citigroup accounts to a cash account within the bank, then wired the money to his personal bank accounts outside Citigroup.

In a statement, the FBI said Foster had violated his employer's trust and exploited his position to commit the fraud. This

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