Former Citi VP Admits To Stealing $22 Million From Bank

If you think you need Ben Affleck in a creepy nun mask to heist millions from a bank, there’s a former VP of Citigroup who can teach you a thing or two about a bloodless robbery. Of course, this guy also got caught and has pleaded guilty to embezzling more than $22 million from his former employer, so he’s probably not one to look to for get-rich-quick advice.

Authorities arrested the 35-year-old onetime VP and charged with funneling millions in bank funds to his personal accounts during a 7-year period.

From Reuters:

According to the government, Foster first transferred money from various Citigroup accounts to Citigroup’s cash account and then wired the money to his personal account at another bank. He concealed his thefts by, among other methods, making false accounting entries to create the appearance that the bank’s cash account was in balance.

In a shocking change of pace for white collar criminals, Foster spent the money on expensive homes and cars.

“The defendant violated his employer’s trust and stole a stunning amount of money over an extended period of time to finance his personal lifestyle,” U.S. Atty. Loretta Lynch said in a statement.

“We are pleased that Mr. Foster will be held accountable for his crimes,” a Citigroup rep chimed in.

The government is expected to request a prison sentence of 8-10 years, at which point the ex-con banker will — if movies and TV are to be believed — slip into a dimly lit parking garage, where a dusty ’71 Chevelle awaits with a suitcase full of gold bricks in the trunk.

Ex- vice president pleads guilty to stealing $22M from Citi [Chicago Tribune]