Former Citigroup Executive Receives 30-Year Prison Sentence
A former Citigroup managing director has been sentenced to 30 years in federal prison after admitting to a series of serious sex crimes that prosecutors said spanned nearly a decade. Edward Gene Smith, 50, received the sentence in a Manhattan federal court after pleading guilty to charges that included drugging and sexually assaulting women, possessing child sexual abuse material, and obstructing justice.
The case has drawn widespread attention due to Smith’s senior position in the financial industry and the severity of the offenses. Prosecutors argued that he used his wealth, education, and professional status to target vulnerable women while concealing his criminal conduct for years.
Prosecutors Detail Years of Abuse
According to court filings, Smith committed the crimes between 2015 and 2024. Investigators said he lured women—many facing financial hardship—to his New York residence by promising financial assistance or opportunities. Once there, prosecutors said he drugged victims, sexually assaulted them while they were incapacitated, and secretly photographed them.
Authorities also found tens of thousands of files containing child sexual abuse material during the investigation. Prosecutors described the evidence as deeply disturbing and emphasized that the crimes were carefully planned rather than impulsive acts.
Defense Argument Rejected by Prosecutors
Before sentencing, Smith’s legal team argued that autism spectrum disorder played a significant role in his criminal behavior and affected his understanding of relationships and consent. Federal prosecutors strongly disputed that claim, calling it unsupported and offensive to individuals with autism.
The court ultimately imposed the full 30-year sentence requested by prosecutors. Smith expressed remorse in a letter submitted before sentencing, acknowledging the damage caused by his actions and describing his personal downfall.
Banking Career Ended Following Investigation
Smith joined Citigroup in 2021 and remained with the company until his arrest in 2024. The bank stated that it moved to terminate his employment immediately after learning of the law enforcement investigation and cooperated fully with authorities throughout the case. Before joining Citigroup, Smith held positions at several major financial firms.
The sentence brings to a close one of the most high-profile criminal cases involving a senior Wall Street executive in recent years, with federal authorities emphasizing their commitment to holding offenders accountable regardless of their professional status.
