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Former Citigroup VP sentenced to 8 years in prison after pleading guilty to embezzlement in NY

Published on June 29, 2012; Published on June 29, 2012

Topics :: Citigroup , Citibank , New York City , NEW YORK, N.Y. , Brooklyn

NEW YORK, N.Y. - A former Citigroup vice-president has been sentenced in New York City to eight years in prison for embezzling more than $22 million.

Gary Foster received the term Friday in federal court in Brooklyn.

The 35-year-old Foster pleaded guilty last year. Authorities had accused him of secretly transferring money from various Citibank accounts to his personal account at another bank.

Foster also was forced to forfeit property he purchased with his ill-gotten gains. It included real estate in New York and New Jersey, and several luxury cars.

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