A "high-flying" Citigroup trader has been suspended for allegedly stealing sandwiches from the staff canteen at the financial services company's headquarters in Canary Wharf, London.
Paras Shah, 31, who earned £1 million a year, was reportedly removed as Citigroup’s head of high-yield bond trading for Europe, Africa and the Middle East.
Though the scale and time-frame were unclear, reports said there were “numerous allegations” of theft against Shah, who was among Europe’s topnotch credit traders.
Incidentally, the suspension came weeks ahead of annual bonuses being disbursed to senior staff at Citigroup.
Reports noted that Shah was not the first banker accused of such personal misconduct. Japan’s Mizuho Bank had sacked a London banker named Marius Caracota in 2016, after he was caught stealing a £5 chain-guard from a colleague’s bike.
In 2014, the Financial Conduct Authority had banned former BlackRock executive Jonathan Burrows from “senior roles in the UK finance sector” for dodging train fares. He, eventually, had to pay £43,000 to Southeastern railway for settling the case.
