Ex-Citigroup Secretary Convicted of Stealing


A former Citigroup secretary was found guilty by a federal jury of stealing $1.3m from William Salomon, the 98-year-old former Wall Street banker who was the son of the founder of Salomon Brothers.

Bloomberg reports that Karen Febles, 48, was convicted yesterday by jurors in Newark, New Jersey, of four counts of wire fraud, three counts of money laundering, two counts of tax evasion and one count of bank fraud. Febles who testified in her defense on January 11th, denied wrongdoing.

Febles, who controlled Salomon’s checkbook, used the money she stole to pay for cars, real estate, cruises and jewelry, prosecutors told jurors. Jurors deliberated less than three hours Monday before announcing a verdict after 4 p.m.

'Karen Febles took advantage of her position as executive assistant to loot her employer’s bank accounts', U.S. Attorney Paul Fishman said in a statement. 'By betraying her employer’s trust, Febles financed a luxurious lifestyle she could not otherwise have afforded'.

Febles also was convicted of failing to pay more than $250,000 in taxes.

'We respect the jury’s verdict, and we’ll go ahead and prepare for sentencing', Febles attorney Edward McQuat said in a telephone interview. 'I’m sure she’ll appeal'.

Hit the link below to access the complete Bloomberg article:

Ex-Citigroup Secretary Convicted of Stealing From Salomon

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