High-paid Banker in London Suspended over Food TheftNRI Top Stories

February 06, 2020 16:08
High-paid Banker in London Suspended over Food Theft

(Image source from: bbc.com)

An Indian banker of a high profile in London has been suspended by the Citigroup after he was accused of stealing food from the office canteen.

The trader Paras Shah who reportedly have been earning a handsome seven-digit salary in the British pounds was removed from his post after he had stolen food from the canteen at Citibank’s European headquarters in Canary Wharf, London.

The income of Paras Shah is almost 9.2 crore per year when concerted to the Indian currency.

According to the reports, Shah who is aged 31 years had been suspended from his job as the Citi’s head of high- yield bond trading for Europe, the Middle East and Africa, as was accused of food theft in the office canteen.

Shah had joined the Citigroup in 2017 and had been one of the highest- profile credit traders in Europe. Prior to working in the Citigroup, Paras Shah with HSBC for seven years.

His job is said to be involved with trading in the junk bonds, which have been issued by the companies with low credit ratings or the short track records as a means of the raising cash.

The suspension of Paras Shah had been announced weeks before Citigroup was due to pay bounces to its senior staff.

It is not clear as in the number of times or over what period of time Paras Shah had stolen the food from the office canteen.

The media tried to contact Paras Shah by all the questions have been directed to Citigroup and the Citigroup had further declined to comment on the matter.

It has been said that Paras Shah is not the first leading City figure to have faced the serious consequences that have been posed as a result of alleged or proven petty dishonesty.

By Shrithika Kushangi

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