FORMER CITIGROUP VICE PRESIDENT, JAMAICAN GARY FOSTER, SENTENCED TO SERVE OVER 8 YEARS IN PRISON FOR $23M FRAUD!

Gary Foster

Former Citigroup Vice President Jamaican Gary Foster has been sentenced to  8 Years and 1 month in prison for embezzling almost 23 million US dollar from the bank.

Federal prosecutors in Brooklyn, New York say Foster pleaded guilty to bank fraud in September after admitting that he transferred money from various Citigroup accounts to his own at J.P Morgan Chase.

According to the prosecution he concealed his activities by making false accounting entries.

Prosecutors said he used the money to buy real estate and luxury sports cars, including a Ferrari and a Maserati.

The US government has seized or restrained property from Foster valued at 14 million dollars.

The Jamaican started at Citigroup as a temporary employee and worked his way up to Vice President.