A high-flying Citigroup trader has been suspended from the bank following accusations he stole from the staff canteen.
Paras Shah, 31, had allegedly taken food from the company’s European headquarters in London’s Canary Wharf, according to the Financial Times.
The bank suspended him following the allegations, sources told the newspaper.
Mr Shah was earlier reported to have left the bank this month. Reuters said that he had left after a tough year.
It comes just over two years since he joined the bank from HSBC. He was promoted to head of Europe, Middle East and Africa high yield credit trading after only two months, according to a LinkedIn profile.
Mr Shah did not respond when the PA news agency contacted him on LinkedIn. Citigroup declined to comment.
The average salary for a credit trader is £183,740, according to employee review website Glassdoor. However, because of Mr Shah’s senior position at Citi, he is likely to be on a far higher salary.
One banking source told PA a similar position at other banks could command a salary of more than £1 million a year.
Educated in economics at the University of Bath, Mr Shah’s job involved trading junk bonds – risky company debt – from London.
He first joined HSBC in 2009, first as a summer analyst while he was still at university, according to his LinkedIn profile.
In 2014, Jonathan Burrows – a managing director at BlackRock Asset Management Investor Services – was banned from taking senior roles in the British financial sector after he was found to have repeatedly skipped paying for his train ride.
He settled the case for £43,000, after investigators found that he had failed to pay full price for tickets from his home in East Sussex for several years. It earned him the title of the “biggest fare dodger in history” in the press.
We need your help to keep speaking the truth
Every story that you have come to us with; each injustice you have asked us to investigate; every campaign we have fought; each of your unheard voices we amplified; we do this for you. We are making a difference on your behalf.
Our fight is your fight. You’ve supported our collective struggle every time you gave us a like; and every time you shared our work across social media. Now we need you to support us with a monthly donation.
We have published nearly 2,000 articles and over 50 films in 2021. And we want to do this and more in 2022 but we don’t have enough money to go on at this pace. So, if you value our work and want us to continue then please join us and be part of The Canary family.
In return, you get:
* Advert free reading experience
* Quarterly group video call with the Editor-in-Chief
* Behind the scenes monthly e-newsletter
* 20% discount in our shop
Almost all of our spending goes to the people who make The Canary’s content. So your contribution directly supports our writers and enables us to continue to do what we do: speaking truth, powered by you. We have weathered many attempts to shut us down and silence our vital opposition to an increasingly fascist government and right-wing mainstream media.
With your help we can continue:
* Holding political and state power to account
* Advocating for the people the system marginalises
* Being a media outlet that upholds the highest standards
* Campaigning on the issues others won’t
* Putting your lives central to everything we do
We are a drop of truth in an ocean of deceit. But we can’t do this without your support. So please, can you help us continue the fight?