Monday, March 19, 2007

Plea Nets 15 Months for former exec at Citibank

A press release of the U.S. Attorney for the Southern District of New York states that "the former head of the commodities trading desk at Citibank NA("Citibank"), was sentenced today to 15 months’ imprisonment for conspiring to falsify bank records and to commit wire fraud."  The press release also states that that the defendant "pleaded guilty to scheming to inflate the trading profits of the Citibank commodities desk by as much as $20 million during 2003 in order to enhance his apparent job performance and his eligibility for bonuses from Citibank."  (see also Wall Street Jrl here)

(esp)

http://lawprofessors.typepad.com/whitecollarcrime_blog/2007/03/plea_nets_15_mo.html

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