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Former Citigroup employee pleads guilty to fraud

Original post made on Oct 13, 2011

A former Citigroup securities representative who worked in Palo Alto pleaded guilty to one count of mail fraud Tuesday (Oct. 11) and admitted to stealing $749,978 from clients, according to federal court documents.

Read the full story here Web Link posted Thursday, October 13, 2011, 11:39 AM

Comments (5)

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Posted by restitution
a resident of Adobe-Meadows
on Oct 13, 2011 at 12:07 pm

If she stole $750K, why does she only have to pay $260K restitution? Does she get to keep the other $490K?

And why doesn't the paper print the mug shots of white collar criminals, like they always do with street criminals?


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Posted by Frank Booth
a resident of Midtown
on Oct 13, 2011 at 1:54 pm

Restitution, 'cuase she did it with a pen and not a gun.


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Posted by daniel
a resident of Embarcadero Oaks/Leland
on Oct 13, 2011 at 4:24 pm

This is why we have the OWS phenomenon. City Group Global Markets is fined $500,000, which is like fining Bill Gates a penny for running a red light. What incentive do Wall Street firms have to monitor their brokers and do any due diligence? Wall Street is pretty much above the law. They crippled the US economy, got bailed out by the American people and not one person went to jail.


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Posted by Jake
a resident of another community
on Oct 26, 2011 at 2:17 pm

Until the court system starts sentancing white collar criminals to some serious time in state prisons the white collar crime will continue to pay.
White collar crimes have damaged the entire US and world economy, ruined companies, lost jobs, peoples life savings and retirement and cost people their homes, health and lives.
Truth is most people would do more time for a robbery of a few hundred dollars from a quikie mart.
Prison time sentanced should reflect damages, impact, investigation hours/costs/etc. Stealing $50.00 by physical force shouldnt be treated harsher than taking hundreds of thousands or millions from people and ruining their lives forever.
Send those Wall Street thugs to NY State prison for 30 plus years in general population!! they might think twice if that was a possibility before robbing the average joe of their hard earned money.


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Posted by Hmmm
a resident of East Palo Alto
on Oct 26, 2011 at 3:57 pm

So often the thinking is that white collar criminals don't commit violent crimes, so their sentences can be lighter or in nicer places. The problem w/this is that there are often cascading results from those crimes. I understand that the criminal isn't responsible for how it cascades, but they started the cascade.

Daniel, thanks for your comments - so true!


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