Today in Bear Stearns alums:
* Ace Greenberg's grand-dog Bagel remains missing, feared dead
* Warren Spector, who got fired for taking too many days off by Mr. Out of the Office himself, has sold his Greenwich Village co-op for $8 million
* Jimmy Cayne, very much desperate at this point, still looking to unload his 6,000 square foot grow house-- make him an offer
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.” Ex-Citigroup Executive Gets 8 Years For Embezzlement [Bloomberg]
Unlike Bear, a Greenwich Village townhouse is actually worth something.
