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A former vice president for Citigroup Inc pleaded guilty Tuesday to embezzling more than $22 million from the company and funneling the money to his personal bank account.
Gary Foster, 35, pleaded guilty to bank fraud, admitting that he took the money between 2003 and 2010. He appeared in U.S. District Court in Brooklyn before Judge Eric Vitaliano.
Assistant U.S. Attorney Michael Yaeger said the government will request a prison sentence of between 97 months and 121 months. Foster will remain free on $800,000 bail until he is sentenced.
Foster was arrested in June, and at the time was charged with embezzling $19 million from the bank's accounts. He admitted in court Tuesday to taking more than $22 million.
Titre original
VP OF CITIGROUP EMBEZZLES $22 MILLION AND GETS A SHORT SENTENCE - GARY FOSTER - READ UNSEALED COMPLAINT HERE
A former vice president for Citigroup Inc pleaded guilty Tuesday to embezzling more than $22 million from the company and funneling the money to his personal bank account.
Gary Foster, 35, pleaded guilty to bank fraud, admitting that he took the money between 2003 and 2010. He appeared in U.S. District Court in Brooklyn before Judge Eric Vitaliano.
Assistant U.S. Attorney Michael Yaeger said the government will request a prison sentence of between 97 months and 121 months. Foster will remain free on $800,000 bail until he is sentenced.
Foster was arrested in June, and at the time was charged with embezzling $19 million from the bank's accounts. He admitted in court Tuesday to taking more than $22 million.
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A former vice president for Citigroup Inc pleaded guilty Tuesday to embezzling more than $22 million from the company and funneling the money to his personal bank account.
Gary Foster, 35, pleaded guilty to bank fraud, admitting that he took the money between 2003 and 2010. He appeared in U.S. District Court in Brooklyn before Judge Eric Vitaliano.
Assistant U.S. Attorney Michael Yaeger said the government will request a prison sentence of between 97 months and 121 months. Foster will remain free on $800,000 bail until he is sentenced.
Foster was arrested in June, and at the time was charged with embezzling $19 million from the bank's accounts. He admitted in court Tuesday to taking more than $22 million.
Droits d'auteur :
Attribution Non-Commercial (BY-NC)
Formats disponibles
Téléchargez comme PDF, TXT ou lisez en ligne sur Scribd
Case 1:11-cr-00601-ENV Document 1 Filed 06/23/11 Page 1 of 5 PageID #: 1
Case 1:11-cr-00601-ENV Document 1 Filed 06/23/11 Page 2 of 5 PageID #: 2
Case 1:11-cr-00601-ENV Document 1 Filed 06/23/11 Page 3 of 5 PageID #: 3 Case 1:11-cr-00601-ENV Document 1 Filed 06/23/11 Page 4 of 5 PageID #: 4 Case 1:11-cr-00601-ENV Document 1 Filed 06/23/11 Page 5 of 5 PageID #: 5 BEFORE ERIC N. VITALIANO UNITED STATES DISTRICT JUDGE DATE: 9/6/2011 CRIMINAL CAUSE FOR PLEADING DOCKET # 11cr601 Defendant # 1 CASE: USA v. Gary Foster (bond)
COUNSEL: Isabelle Kirshner AUSA: Michael Yaeger Spanish Interpreter: n/a COURT REPORTER: Michele Nardone X CASE CALLED FOR PLEADING. X DEFT SWORN.
X DEFENDANT ENTERS A PLEA OF GUILTY TO COUNT 1 of the information X COURT FINDS THAT THE PLEA WAS MADE KNOWINGLY & VOLUNTARILY AND NOT COERCED. COURT FINDS FACTUAL BASIS FOR THE PLEA & ACCEPTS PLEA OF GUILTY TO COUNT one of the information. X SENTENCE DATE: TO BE SET AFTER PROBATION REPORT COMPLETE Time in Court: 40 minutes Case 1:11-cr-00601-ENV Document 12 Filed 09/06/11 Page 1 of 1 PageID #: 22 AO 455 (Rev. 01/09) Waiver of an Indictment UNITED STATES DISTRICT COURT United States of America v. Gary Foster Defendant for the Eastern District of New York ) ) ) ) ) Case No. 11cr601(ENV) WAIVER OF AN INDICTMENT I understand that I have been accused of one or more offenses punishable by imprisonment for more than one year. I was advised in open court of my rights and the nature of the proposed charges against me. After receiving this advice, I waive my right to prosecution by indictment and consent to prosecution by information. Date: Signature of defendant's attorney _ Kil"hnElr Printed name of attorney I".,,.,. - - - ud ssfgnature Eric N. Vitaliano, US-.,O".,J"---__ Judge's printed name and title Case 1:11-cr-00601-ENV Document 10 Filed 09/06/11 Page 1 of 1 PageID #: 17 s/ENV
# JM:MLY F.#2011R01068 UNITED STATES DISTRICT COURT EASTERN DISTRICT OF NEW YORK - - X UNITED STATES OF AMERICA - against - GARY FOSTER, Defendant. - - - - - - X I N FOR MAT ION Cr. No. 1 [ - ~ 0 l (T. 18, U.S:C., 981(a) (1) (C), 1344, 2 and 3551 et seq.; T. 21, U.S.C., 853 (p); T. 28, U.S.C., 2461) THE UNITED STATES ATTORNEY CHARGES: INTRODUCTION Unless stated otherwise, at all times relevant to this Information: Relevant Person and Entity 1. The deposits of Citigroup, Inc. ("Citigroup") were insured by the Federal Deposit Insurance Corporation. Citigroup was a "financial institution" as defined in Title 18, United States Code, Section 20. 2. The defendant GARY FOSTER was a vice president in Citigroup's internal treasury finance department who worked in that department's derivatives unit. FOSTER worked out of Citigroup's building in Long Island City, New York. The derivatives unit was responsible for processing payments relating to trades of derivative instruments such as "swaps." Case 1:11-cr-00601-ENV Document 11 Filed 09/06/11 Page 1 of 4 PageID #: 18 . . In support of that function, the department processed wire transactions between entities. The Scheme to Defraud 3. In or about and between September 2003 and June 2011, the defendant GARY FOSTER orchestrated a scheme to defraud Citigroup by causing Citigroup's money to be wired to his own personal bank account at JPMorgan Chase, N.A. ("Chase"). As a result of FOSTER's fraud, he obtained over $22 million from Citigroup. 4. To carry out his scheme, the defendant GARY FOSTER deducted money from various Citigroup accounts and added it to Citigroup's cash account. FOSTER then wired the money from Citigroup's cash account to his personal bank account at Chase. 5. The defendant GARY FOSTER concealed the wire transfers from the cash account to his personal bank account by making various false accounting entries to create the appearance that the cash account was in balance. FOSTER further concealed his actions by placing a fraudulent contract or deal number in the reference line of the wire transfer instructions to give the appearance that the wires to his personal bank account were in support of an existing Citigroup contract. 2 Case 1:11-cr-00601-ENV Document 11 Filed 09/06/11 Page 2 of 4 PageID #: 19 1 BMKFAAOO 6. In or about and between September 2003 and June 2011, both dates being approximate and inclusive, within the Eastern District and elsewhere, the defendant GARY FOSTER did knowingly and intentionally execute and attempt to execute a scheme and artifice to defraud Citigroup, a financial institution, and to obtain moneys, funds, assets and other property owned by, and under the custody and control of, Citigroup by means of materially false and fraudulent pretenses, representations and promises. (Title 18, United States Code, Sections 1344, 2 and 3551 et ~ ) CRIMINAL FORFEITURE ALLEGATION 7. The United States hereby gives notice to the defendant GARY FOSTER that, upon conviction of the offense alleged in this Information, the United States will seek forfeiture in accordance with Title 18, United States Code, Section 981(a) (1) (C), and Title 28 United States Code, Section 2461, of any property constituting or derived from proceeds obtained directly or indirectly as a result of such offense, including but not limited to, a sum of money representing the amount of gross proceeds obtained as a result of the offense. 8. If any of the above-described forfeitable property, as a result of any act or omission of the defendant: 3 Case 1:11-cr-00601-ENV Document 11 Filed 09/06/11 Page 3 of 4 PageID #: 20 a. cannot be located upon the exercise of due diligence; b. has been transferred or sold to, or deposited with, a third party; c. has been placed beyond the jurisdiction of the court; d. has been substantially diminished in value; or e. has been commingled with other property which cannot be divided without difficulty; it is the intent of the United States, pursuant to Title 21, United States Code, Section 853(p), to seek forfeiture of any other property of the defendant up to the value of the forfeitable property described in this forfeiture allegation. (Title 18, United States Code, Section 981(a) (1) (C); Title 21, United States Code, Section 853(p); Title 28, United States Code, Section 2461) LORETTA E. LYNCH UNITED STATES ATTORNEY EASTERN DISTRICT OF NEW YORK B Y g ~ ~ t S ~ ~ ~ ACTING UNITED STATES ATTO PURSUANT TO 28 C.F.R. 0.13 4 Case 1:11-cr-00601-ENV Document 11 Filed 09/06/11 Page 4 of 4 PageID #: 21 Case 1:11-cr-00601-ENV Document 6 Filed 06/27/11 Page 1 of 1 PageID #: 10 Case 1:11-cr-00601-ENV Document 5 Filed 06/27/11 Page 1 of 1 PageID #: 9
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