Citi Trader Suspended on Allegation of Stealing From Cafeteria

(Bloomberg) -- Citigroup Inc. suspended its head of high-yield credit trading for Europe, the Middle East and Africa after he allegedly stole from the company’s cafeteria, according to a person familiar with the matter.

Paras Shah, one of the bank’s highest-profile traders, left Citigroup last month over the issue, the person said, asking not to be named because the matter is private.

Danielle Romero-Apsilos, a spokeswoman for the bank, declined to comment on the nature of the departure. Shah didn’t respond to a request for comment sent through LinkedIn.

Citigroup hired Shah in 2017 and within months he was promoted to lead the high-yield credit trading business for Europe, the Middle East and Africa. His suspension was earlier reported by The Financial Times.

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