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London banker with yearly Rs 9cr salary suspended for allegedly stealing food from office canteen

Paras Shah, 31 who was head of Citigroup's high-yield bond trading for Europe, the Middle East, and Africa allegedly stole food from the office canteen of the company's European headquarters in Canary Wharf, London.

India TV Trending Desk India TV Trending Desk
New Delhi Updated on: February 05, 2020 15:44 IST
paras shah

Paras Shah was suspended allegedly for stealing sandwiches from the office canteen

An Indian origin, London based investment banker working with Citi Group was allegedly suspended for stealing food from the office canteen. Paras Shah, 31 head of Citigroup's high-yield bond trading for Europe, the Middle East, and Africa allegedly stole food from the office canteen of the company's European headquarters in Canary Wharf, London. ​

According to a report in Financial Times, Shah was suspended from his duties following multiple complaints of stealing food by him. There is no clarity about the period since when Shah had been stealing food from the canteen.

Many media reports suggest that Shah was suspended weeks before Citi was due to pay bonuses to senior staff. Paras 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.

Shah's LinkedIn profile claims that he had previously worked with HSBC's fixed-income trading division scheme and spent seven-year with the British multinational bank before joining the American bank Citi. Shah's Facebook feed suggests that he leads a luxurious life and often takes holidays to top holiday destinations across the world.

Paras Shah is not the first leading City figure to have faced serious consequences because of alleged or proven petty dishonesty. According to a BBC report in 2014, BlackRock director Jonathan Paul Burrows was banned from working in the financial services industry after he was caught regularly avoiding buying a train ticket on his commute to London.

The Financial Conduct Authority (FCA) said he should have been a role model for others and his conduct had "fallen short of the standard expected for someone in his position".

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