Ex-Citigroup VP gets eight years for stealing $22 million

Gary Foster, 35, pleaded guilty in September to siphoning the money from his employer between 2003 and 2010, transferring the funds to Citigroup's cash account previously wiring it into his own personal account at a different bank.

Foster was able to evade detection for years by making false accounting entries that made it seem like the wire transfers were in support of existing Citigroup contracts, when they were in fact being transferred to his account, according to the complaint. He used the money to fund a lavish lifestyle, purchasing luxury automobiles including a Ferrari and Maserati, and properties in Brooklyn, Manhattan and New Jersey, prosecutors said.

The fraud was uncovered while an internal audit of Citigroup's treasury department. Citigroup without warning informed the authorities and cooperated with the federal investigation, according to an affidavit from Thomas D'Amico, a special agent with the Federal Bureau of Investigation.

The government said it had seized cars

The government said it had seized cars and property from Foster worth in broad outline $14 million, which he forfeited pursuant to a plea agreement.