Citigroup is suing one of its former directors for taking trade secrets with him when he left the company to head corporate flow sales for Deutsche Bank Asia.According to Bloomberg, the lawsuit came after a former colleague told on him, so the director apparently thinks it’s ridiculous and probably just started as a joke.
“There’s no way I can show that the allegations are untrue” Gautam Hazarika, the former Singapore-based director of Citi’s global markets unit, said in his affidavit. The Deutsche Bankers he apparently gave the information to aren’t named in the lawsuit.
“It may well even have been a joke or a tease,” he said in the affidavit.
Some joke! The guy who snitched on him, Toby Frei, may or may not have thought it was funny to tell superiors that Hazarika had “given Deutsche Bank everything,” but his former colleague is still getting sued.
Citigroup says Hazarika was in “flagrant breach” of his employment contract and duties to Citigroup by sending e-mails containing trade secrets to Deutsche Bank, Standard Chartered Plc and his personal account.
Hazarika denies wrongdoing and will defend himself. We emailed Toby Frei for comment and haven’t heard back yet.
Hey, be prepared! Learn the 10 ways you could get snitched on by corporate spies looking to steal your secrets –>