Nobody fucks with Count Vikula!
Former Citigroup Vice President Gary Foster was sentenced to 97 months in prison for embezzling almost $23 million from the bank, according to federal prosecutors in Brooklyn, New York. Foster pleaded guilty to bank fraud in September, admitting that he transferred money from various Citigroup accounts to his own at JPMorgan Chase. He concealed his activities by making false accounting entries, according to the government. He used the money to buy real estate and luxury sports cars, including a Ferrari and a Maserati, prosecutors said. The government has seized or restrained property from Foster valued at a total of $14 million. “I executed a scheme to defraud Citigroup,” Foster told U.S. District Judge Eric Vitaliano at his plea hearing last year in Brooklyn. “I directed funds to be wired into my personal account at JPMorgan.”
Prosecutors say that when glamorous young Renata Shamrakova spent nearly a million bucks last year jet-setting around the world and buying armloads of jewelry, the funds were stolen from her high-society boss, Todd Meister. Wrong, she says. He was my lover. The 26-year-old aspiring actress pleaded not guilty in Manhattan Superior Court Thursday to charges of grand larceny, identity theft and tampering with evidence. “It’s not as clean and neat as the DA is saying,” said Mark Agnifilo, the sultry Shamrakova’s lawyer. “It’s a he said-she said. He said this is a theft. She said it is not, because there was a relationship.” Meister, 41, a Harvard Business School grad who founded the multibillion-dollar Priderock hedge fund, was not in court to hear the claim that his personal assistant maxed out his credit cards “with his consent.” But afterwards, Meister – who has dated some of the richest women in society and was once briefly married to his childhood pal Nicky Hilton – called it a bunch of nonsense. “She didn’t work out of my house, she worked out of my office. I’ve never even had a meal with her – not even a cup of coffee,” Meister said.
Hope this clears things up.
The more frequently you monitor your portfolio, the more likely you are to observe a loss.
This is likely to cause short-sighted decisions and could hurt your investment performance.
If you are checking your portfolio more than once per quarter, you’re doing it too much.
Click to read more.
Dan Egan, Betterment Director of Behavioral Finance and Investing
Apparently Gary Foster “used his knowledge of bank operations” to get the job done.
With the money he embezzled from Wachovia ($11.2 million give or take a few clams), […]