Ex-Citigroup exec charged with $19m 'inside job'

A former Citigroup vice president has been charged with stealing more than $19m (£12m) from the bank in what a U.S. prosecutor called "the ultimate inside job."

Gary Foster, 35, who was vice president of Citigroup's treasury finance department, was arrested yesterday in New York and charged with bank fraud, according to Bloomberg. Foster is accused of transferring $19.2m from various Citigroup accounts and ultimately to his own account at JPMorgan Chase & Co. "The defendant allegedly used his knowledge of bank operations to commit the ultimate inside job," US Attorney Loretta Lynch said in a statement. Foster faces a maximum of 30 years in prison if convicted, according to the statement.  Citigroup was one of the financial institutions ...