Business Insane

Citigroup’s top executive suspended for stealing sandwiches from office canteen

A 31-year-old executive, Paras Shah, was suspended from Citigroup’s head of high-yield bond trading for Europe, the Middle East and Africa last month after the allegation of stealing surfaced.

A report by Financial Times revealed that Paras Shah was suspended after a number of allegations against him stated that he was stealing sandwiches from office canteen from Citigroup’s headquarters in east London.

Shah, who is skilled in securities, trading and risk management, was suspended merely weeks before senior staff in Citi were to get their annual bonuses, the report revealed.

Paras Shah’s profile on Linkedin profile says that after he completed his graduation in Economics from University of Bath, he had joined HSBC’s Sterling Credit Trading. He worked there before moving to Citi, after around seven years in HSBC.

Shah was promoted within only two months with Citi and was made head of Europe, Middle East and Africa high-yield credit trading, the report said.

However, Shah is not the first banker to land himself in a soup for questionable practices.

According to the report, Mizuho Bank in Japan in 2016 had expelled a London banker after he was found stealing a part worth 5 pounds from a colleague’s bicycle.

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