Earlier this summer federal prosecutors charged ex-Citigroup VP Gary Foster of embezzling millions from the bank into personal accounts and yesterday he plead guilty to one count of bank fraud. The legally blind banker now faces a maximum of ten years in the slammer for making off with $22.9 million between September 2003 and June 2011. more ›

Yesterday federal prosecutors announced they had arrested 35-year-old ex-Citigroup VP Gary Foster for embezzling $19.2 million from the bank into his personal accounts (at Chase, natch). And now we're getting to hear all the fun details about what Foster, who until January earned $100,000 annually as an assistant V.P. in the bank's treasury finance department, spent his stolen bucks on. Like that Maserati GranTurismo and BMW 550i he bought, and the chauffeur to drive him around in because he is legally blind. more ›

A 25-year-old teller at a TriBeCa Citibank finally figured out how to protect your savings from the hands of dastardly robbers. Make fun of them! On Monday evening, a potential robber walked up to her counter and said, "Excuse me Miss. This is a robbery. Give me all your large bills. Don't do anything stupid." Thinking it was a joke, she laughed in his face, and then quickly told her manager once she realized he wasn't kidding. But the embarrassment was just too much for the crook, who fled before he could get any cash. He should have dressed up as Darth Vader—nobody ever laughed at that guy. more ›

A juror in a $2.2 billion lawsuit against Citigroup was targeted by the bank's lawyers yesterday because her name appears in the credits for Michael Moore's powerful documentary Capitalism: A Love Story. Juror No. 6, Donna Romo-Gianell, doesn't appear in the film and has never met Moore; her scene, in which she's interviewed about being an unemployed person playing Santa, ended up on the cutting room floor. But even the subtlest Michael Moore taint was enough to make Citigroup's lawyers want her off the jury. more ›

According to blogger David Xia, a friend of his grabbed this absolutely ridiculous card from the Citibank HR offices after interviewing there. People have been passing it around the classroom internet today, with a mixture of rage, laughter and disbelief. Because of some of the spelling errors, some think it may be a hoax, although the book it is cited from, and its author Dr. Lois P. Frankel, are very real (also: Frankel is Einhorn!). more ›

Debrahlee Lorenzana, who claims that Citibank fired her because she's too sexy, was definitely an attraction at the Midtown branches. One man told the Daily News, "I'm sad she's gone, but she did stick out. I know she distracted me whenever I came into the bank," while another said, "I would walk the extra few blocks just to go to this one to see her. I would think Citibank would want employees like her - it brings in the customers." Even a woman observed, "Male customers would often stare. It was rather funny, actually." The News' fashion writer says Lorenzana's form-fitting clothes are great and is reminded of Joan Holloway, the "Mad Men" knockout played by Christina Hendricks. more ›

Students and professors at CUNY Law School are questioning why their institution is shelling out $155 million for a new building in Long Island City, when similar ones with far lower pricetags are available in Manhattan. Again and again they've inquired about the city-funded purchase of a six-floor building at 2 Court Square—a property owned by Citibank—but the administration repeats the same refrain: that the price “is far less than it would have cost CUNY to construct a new building for the Law School, which an independent architectural firm estimated would be $250 million.” Real estate professionals agree the transaction is suspect. “I think it’s a great deal for Citibank, obviously,” said one knowledgeable broker. more ›

Today, the Wall Street Journal reported, "The Federal Bureau of Investigation is probing a computer-security breach targeting Citigroup Inc. that resulted in a theft of tens of millions of dollars by computer hackers who appear linked to a Russian cyber gang, according to government officials." And the attack allegedly focused on Citibank. more ›

Beginning in February, Citibank will start charging all account holders $7.50 each time their monthly balance dips below $1,500. In a move the Post dubs "Really Citi Treament," the bank will stop waiving low balance fees for customers who have direct deposit or conduct two bill payments online each month. According to Citibank, it's not punishment but a reward: "We did so to make them more simple and straightforward, by recognizing and rewarding customers for maintaining their balances with Citibank." But a Citibank manager acknowledged the fees — which could total $90 per year — were high, "Some are regular working folk who are trying hard to make ends meet and to pay their bills. Fifteen hundred dollars is a lot of money. Many don't have that kind of balance in their accounts." more ›

New York investor Hassan Nemazee, whose prolific political fundraising for Democrats like Bill Clinton, Hillary Clinton, Barack Obama and Charles Schumer, was released on $25 million bond yesterday. Nemazee is " accused of lying about his assets to obtain a $74 million loan from Citibank." The NY Times further explains, he "orchestrated the fraud by using forged documents showing that he held accounts with collateral worth hundreds of millions of dollars," but the accounts never existed or were closed. Nemazee did end up paying the money back to Citibank on Monday, but was arrested on Tuesday. He is under house arrest—monitoring device plus no computer or Internet access—at his Upper East Side duplex, which the Daily News says is worth $20 million (that plus his $8 million Katonah estate are what's securing his bond). Vice President Joe Biden, Rep. Carolyn Maloney and Sens. Barbara Boxer, Chris Dodd and Schumer told Politico they plan to return his donations. Time has a 2-minute look at Nemazee. more ›

Hey, it's a twist on the Nigerian scam! The U.S. Department of Justice said that a Nigerian national apparently successfully convinced Citibank to transfer money—over $27 million— from the National Bank of Ethiopia into accounts controlled by him and his associates. Luckily, the many of receiving accounts were unable to accept the transfers and the banks alerted Citibank. more ›

The Big Apple Circus is an institution. So is the New York Stock Exchange. But given these times, was it appropriate for Grandma the Clown to ring the opening bell? (Video here.) Dealbreaker says yes, "Granted, it probably would've been more fitting for a manufacturer of ball gags and executioner's masks to ring the bell, but this works, too." In other news, the Wall Street Journal reports, "Citigroup is handing out pink slips to at least 10,000 employees" in another round of layoffs--plus raise interest rates on credit cards. T.G.I.F.! more ›

After claiming it should still be allowed to purchase--with the help of the government-- Wachovia for $2 billion, Citigroup is now allowing Wells Fargo buy Wachovia for $15 billion. Wachovia issued a statement saying, "We're pleased Citigroup has abandoned its efforts to interfere with Wachovia's planned merger with Wells Fargo. We look forward to completing our merger with Wells Fargo, which we have always believed is in the best interest of shareholders, employees, creditors and retirees as well as the American taxpayers, and it imposes no risk to the FDIC fund." Of course, Citigroup is still suing for $60 billion in breach of contract damages! more ›

Attorney General Andrew Cuomo announced that Citigroup will buy back $7 billion worth of auction-rate securities from almost 40,000 customers. The auction rate market collapsed in February, and investors were left unable to sell them. Cuomo said, "Today’s settlement sends a resounding message to the entire auction rate securities industry: this type of deceptive behavior will not be tolerated." Citibank must buy back the securities by November 5 of this year; the company will also pay a $100 million fine for misleading investors. more ›