Former Banking 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-related crimes that prosecutors said took place over nearly a decade.
Edward Gene Smith, 50, was sentenced in a Manhattan federal court after pleading guilty to charges that included drugging women with the intent to sexually assault them, receiving child sexual abuse material, and obstructing justice. The sentence follows a lengthy federal investigation into crimes that authorities said occurred between 2015 and 2024.
Prosecutors Describe a Pattern of Abuse
According to prosecutors, Smith used his position and financial status to gain the trust of vulnerable women, many of whom traveled from other states or overseas after being promised financial support. Investigators said he invited victims to his New York residence, where they were drugged, sexually assaulted, and in some cases secretly photographed while unconscious.
Authorities also found tens of thousands of files containing child sexual abuse material during the investigation. Prosecutors argued that the crimes were carefully planned and carried out over several years, rejecting claims that the offenses resulted from autism spectrum disorder.
Court Rejects Defense Arguments
During sentencing, the defense argued that Smith’s autism spectrum disorder influenced his understanding of relationships and consent. Federal prosecutors strongly opposed that argument, calling it unsupported and offensive to individuals living with autism.
The court ultimately imposed the 30-year prison sentence requested by prosecutors. Smith expressed remorse before sentencing, acknowledging the dramatic fall from his successful career and stating that he wanted to change his life.
Citigroup confirmed that Smith’s employment was terminated after the company became aware of the criminal investigation and said it fully cooperated with law enforcement throughout the case.
