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Citi Executive Says Currency Chats Were Proof of Trader's Misconduct
Ex-Citigroup Inc. President Jamie Forese said it was “clear cut” that the instant messages sent by a former currency trader -- who was cleared by a U.S. jury -- amounted to gross misconduct. Citigroup had lost all confidence in Rohan Ramchandani when he was fired in January 2014 for sharing confidential information with other traders, Forese said Thursday at a London employment tribunal where Ramchandani is seeking to get rehired by the lender. The communications were “by far” the worst example he’d seen of the wrongdoing, he said. A federal jury acquitted Ramchandani of rigging foreign-exchange markets by ... (full story)