Ex-Citi trader sues for wrongful dismissal

Singapore

A former Citigroup trader fired over claims she and a colleague colluded to rig the currency market sued the bank in Singapore for wrongful dismissal.

Bloomberg News reports that Tian Yuhui, fired the day she returned to work after a four-month maternity leave, is suing for loss of income, deferred stocks and cash awards and for her job to be reinstated, according to a lawsuit filed in August at the Singapore High Court.

She’s also asking Citicorp Investment Bank (Singapore) Ltd., the bank’s local unit, to rescind 'adverse notifications' sent to regulators.

Citigroup was entitled to terminate the currency spot options trader in May, the bank said in its defense filed with the court in October. The bank in a 2014 internal probe uncovered five chats from 2011 to 2013 with a Japanese colleague, according to court papers. The bank claims the chats revealed her 'intention to trade with a view to affect or manipulate' the U.S. dollar-Japanese yen spot price around the time of the 3 p.m. Tokyo fix, a key currency market benchmark.

Hit the link below to access the complete Bloomberg article:

Citigroup Trader Fired Over Currency Probe Sues in Singapore

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