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CITI GROUP(BANKS) FORMER VICE PRES. GOES TO JAIL !!!!!!! DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

CITI GROUP(BANKS) FORMER VICE PRES. GOES TO JAIL !!!!!!!

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Post by darjohn on Tue Jun 28, 2011 6:39 am

NEW YORK - A former vice president at Citigroup Inc was charged with bank fraud on Monday for allegedly embezzling more than $19 million from the company's accounts.

Gary Foster, 35, was arrested Sunday at John F. Kennedy International Airport on a flight arriving from Bangkok, prosecutors said. He is scheduled to make his initial appearance Monday afternoon in Brooklyn federal court, where he will plead not guilty to the charges, according to his attorney, Isabelle Kirshner.

Between May 2009 and December 2010, Foster allegedly transferred $19.2 million from Citigroup accounts to his own personal bank account at Chase.

Foster put fake contract and deal account numbers in the wire-transfer instructions to make them seem like they were supporting an existing contract, before diverting them to his own accounts, prosecutors alleged.

"The defendant allegedly used his knowledge of bank operations to commit the ultimate inside job," said U.S. Attorney Loretta Lynch.

A representative for Citigroup did not immediately return a request for comment.


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Post by trinity on Tue Jun 28, 2011 9:33 am

WOW! and we gonna be trusting these bankers with our money..... May the Lord help us all.

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Post by RedLotus on Tue Jun 28, 2011 10:28 am

@trinity wrote:WOW! and we gonna be trusting these bankers with our money..... May the Lord help us all.

No Trinity, we don't have to hand over our money to them.

Community Banks and Credit Unions

Cant trust the big banks at all

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Post by Guest on Tue Jun 28, 2011 11:14 am

looks like Iraq has come to America or is that America came to Iraq? Nothing new, corruption is rampid everywhere, some are less forunate and get caught. What do you think this whole system is anyway? Fiat money systems breed corruption. Nothing new under the sun.

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Post by Hawaii Rainbow on Tue Jun 28, 2011 2:57 pm

It remains to be seen whether or not they let this guy post bail. Considering the magnitude of the crime, he should be held without it.

Do. Not. Trust. The. Banks.

EVER.
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Post by trinity on Wed Jun 29, 2011 9:16 am

@RedLotus wrote:
@trinity wrote:WOW! and we gonna be trusting these bankers with our money..... May the Lord help us all.

No Trinity, we don't have to hand over our money to them.

Community Banks and Credit Unions

Cant trust the big banks at all


Wouldn't community banks & credit unions have to invest our money through big banks? Since the big banks have direct international connections and smaller banks don't .....please correct me if am wrong. I am so scared of these big banks, it's even not funny.

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Post by trinity on Wed Jun 29, 2011 9:32 am

AJAnderson wrote:looks like Iraq has come to America or is that America came to Iraq? Nothing new, corruption is rampid everywhere, some are less forunate and get caught. What do you think this whole system is anyway? Fiat money systems breed corruption. Nothing new under the sun.


That's exactly my point, these crooks are everywhere!!! So, what do we do now, with these new found blessing; prepare to swim with the sharks or put our $$ under the mattress?

Anyone who has any suggestions on how to deal with these sharks, please post, others including myself would really appreciate it.

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