Gary Foster, the man behind the $19.5 million Citi fraud
Who is Gary Foster? Until a few days ago, he was a completely unknown in the financial services industry.
Foster, 35, toiled as a mid-level accountant Citi's office in Queens, New York (hardly a glamorous locale) in the treasury finance department, (not really a glamorous financial job). He was said to make roughly $100,000 a year. But he used his frauds to live well above his salary.
Media reports indicate that he owns six properties, including a Midtown apartment, two luxury apartments in Jersey City, a house in Tenafly, N.J and a $3 million home in Englewood Cliffs, N.J. The latter was said to have a $500,000 entertainment system and bathroom mirrors that turned to video screens when touched. He drove a Maserati GranTurismo and BMW 550xi.
Foster was also said to be something of spendthrift on massages and facials at fancy spas. The Rutgers graduate now faces up to 30 years in jail. He has pleaded not guilty. And get this: His release on bail was secured by his parent's home in New Jersey.
For more:
- here's the article from Gothamist
Related article:
Citigroup VP arrested, charged with massive fraud




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