SMH, this dude was straight wildin’! His $100 K a year salary was apparently not enough for Gary Foster, who was arrested Sunday and charged with embezzling some $19.2 million in funds while working as an assistant Vice President for the Long Island City, Queens offices of Citigroup’s treasury department — where some of the bank’s own investments are managed.
“The defendant allegedly used his knowledge of bank operations to commit the ultimate inside job,” said Brooklyn US Attorney Loretta Lynch, announcing bank-fraud charges against Foster.
Foster, 35, a Rutgers grad whose Linked In account lists him as hedge-fund consultant, abruptly resigned from his position in January after working for Citi for 12 years. But according to investigators, between May 2009 and December 2010, Foster wired $19.2 million from internal Citigroup accounts into his personal bank account with Chase. The criminal complaint alleges that Foster tried covering his tracks by assigning fake contract or deal numbers to make the transfers look legitimate, he also had himself assigned as contact person if there were problems.
Dang that’s jacked up! He’s a Citigroup employee rocking with the Chase personal jawn? SMH this dude clearly had no loyalty from jump.
This is just the tip of the iceberg though… Wait til you hear what he spent the money on!
You would think after stealing all this cash dude would try and lay low right? Hells nawl. This dude copped some of the most expensive cribs and cars available and even hired chaffeurs because he is legally blind. In fact, sources say he had a Ferrari on order when the FBI arrived at JFK Airport to arrest him Sunday when he arrived on a flight from Bangkok.
Other purchases included a Maserati Gran Turismo and a BMW 550i (along with the chaffeur), $12 million on properties in Midtown Manhattan and New Jersey, where he also bought a house for his parents and paid his ex-wife’s mortgage… in full! Just a month before he left his job, Foster spent $3 milli on a 10,000 sq. ft 6-bedroom mansion in Englewood Cliffs, NJ and another $1.93 million on a West 48th Street apartment at Rockefeller Center — across from a Citigroup branch. This is in addition to the two high rise condos in Jersey City he bought, valued at a combined $2.5 million, which overlooked the Hudson River.
“I walked into the unit and was like, ‘Wow. This is a really great view,’ ” Foster told The Bergen Record from one of his 33rd floor condos last year.
And he didn’t scrimp on decor either. According to one source, one of Foster’s homes had it’s ceilings painted in gold leaf and another had bathroom mirrors that turn into TV screens when a button is pressed.
His lifestyle was equally extravagant… According to another source, the father of two would regularly show up to Manhattan nightclubs like Greenhouse and NYC flossin’ his pricy watches and spending up to $2,000 on bottle service.
Foster “loved to hang out in spas, getting facials and massages” and kept stacks on deck in multiple bank accounts.
Facials and massages are one thing … Maseratis and Mansions are another!!! Way to lay low dumba*s!
More details on the next page…
Foster pleaded not guilty at Brooklyn federal court Monday and was released on $800,000 bond secured by his parents’ home and other properties.
His ex-wife Joan Foster told the NY Post she never saw any signs that the may have been up to something.
“All I can say is he didn’t show any signs of this activity when we were together,” she said.
Foster’s defense lawyer Isabelle Kirshner says he was traveling in southeast Asia when he received word of the case.
“As soon as he became aware they were looking for him, he voluntarily contacted the FBI and arranged to return,” Kirshner said following his court appearance.
A Citi spokeswoman said, “We are outraged by the actions of this former employee. Citi informed law enforcement immediately upon discovery of the suspicious transactions, and we are cooperating fully to ensure Mr. Foster is prosecuted to the full extent of the law.”
Foster faces up to 30 years behind bars if convicted. SMH…
Check the pictures of his 33rd floor Jersey condo, the 6 bedroom Englewood Cliffs mansion and Foster himself below:
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