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Former Citibank Exec Admits Theft

April 3, 1998

NEW YORK (AP) _ A former vice president in Citibank’s private banking section pleaded guilty to federal charges Friday, admitting he defrauded the bank of more than $16 million.

Carlos Gomez, 39, of Manhattan, entered the plea before U.S. District Judge Whitman Knapp to two counts of bank fraud, admitting he used his position at the bank to fraudulently obtain more than $25 million in loans.

He also admitted embezzling more than $1.5 million through manipulating overdraft accounts and said he took another $4.5 million from customers’ accounts without their knowledge.

Gomez was released on bail pending sentencing July 10.

He faces a maximum prison term of 30 years as well as fines and restitution.

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