⁍ Rohan Ramchandani alleged in a lawsuit that the bank unfairly dismissed him from his role without due process or warning.

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⁍ He had sued the bank for more than $112 million, alleging that it made materially false and malicious statements to U.S. prosecutors.

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⁍ The FT report said Ramchandani’s tribunal compensation would be automatically capped at around 74,000 pounds ($96,732.80

– A London employment tribunal has ruled in favor of a former Citigroup trader accused of conspiring to rig foreign exchange prices, the Financial Times reports. Rohan Ramchandani had sued the bank for more than $112 million, alleging that it made materially false and malicious statements to US prosecutors that led to his trial in New York on foreign exchange-rigging charges. According to Reuters, Ramchandani was fired in July 2017 from his job as head of Citigroup’s foreign exchange spot market trading desk. He was one of four former Citigroup employees accused of conspiring to rig prices. Ramchandani was found not guilty of the charges in July. In addition to the $112 million, Ramchandani was seeking reinstatement, which would have allowed him to receive back pay and any other awards since his dismissal. However, an employment judge ruled that wasn’t possible because Citi proved it fired Ramchandani for conduct that didn’t follow its usual procedures. “Citi had already acknowledged that Mr. Ramchandani’s dismissal did not follow our usual procedures, so this aspect of the judgment is not a surprise,” the bank said in a statement.