Ex-Goldman trader appeals bonus ruling

Former Goldman Sachs trader Deeb Salem appealed a ruling by a New York state judge rejecting his bid for almost $5m in bonus money on top of $8.25m he got in a 2010.

Bloomberg News reports that in September, Justice Eileen Bransten denied Salem’s request to set aside a Financial Industry Regulatory Authority panel decision to dismiss his claim, and granted Goldman Sachs’s request to seal portions of the dispute with the former trader.

Salem told a state appeals court in Manhattan today that the judge erred in her decision, according to a filing. Salem claimed he helped the bank earn more than $7bn, and told the arbitration panel February 25 that he was one of the most sought-after investment professionals in the mortgage industry.

The panel, described by Salem’s lawyer as a “kangaroo court,” didn’t let Salem call some of Goldman Sachs’ top trading executives as witnesses, resulting in a miscarriage of justice, according to his original petition.

To access the complete Bloomberg News article hit the link below:

Ex-Goldman Sachs Trader Salem Renews Fight For $5 Million

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