A former JPMorgan currency salesman, fighting the bank for a second time over what he claims was his unfair dismissal, said he lost about $2.8m in compensation after he was let go for a practice that was previously commonplace at the bank.
Bloomberg News reports that Patrice Ktorza, a former executive director at the U.S. bank, told the London tribunal in his court papers that he unfairly lost the money from bonuses and unvested stock awards after he was suspended in November 2014, despite not being officially dismissed for seven months. The bank successfully appealed the Frenchman’s case last year.
Breaking down in tears under cross-examination, Ktorza, 45, described how he’d chased the bank for a resolution. The delay precluded him from finding another job and he lost eight kilograms (18 pounds), according to the document.
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