A lawsuit introduced by former Citi FX dealer Rohan Ramchandani in opposition to his ex-employer continues to be tormented by points regarding proof.
This turns into obvious by a letter submitted by the Division of Justice (DOJ) on August 17, 2023 on the New York Southern District Courtroom.
DOJ says it believes there’s a continued want for confidentiality over the 2 classes of supplies proposed for redaction: (1) grand jury supplies produced by DOJ on this matter pursuant to a Federal Rule of Felony Process 6(e) Order (ECF No. 44), and (2) DOJ’s notes from the underlying prison investigation and associated deposition testimony supplied by DOJ on this matter.
Ramchandani introduced this motion in opposition to Citibank, his former employer. The Grievance alleges one rely of malicious prosecution stemming, amongst different issues, from Citi’s disclosure of details about Ramchandani to, and different communications with, the USA Division of Justice (DOJ) in reference to an investigation right into a purported prison antitrust conspiracy arising out of Ramchandani’s function as dealer in FX spot markets, and particularly the EUR/USD FX Spot market, on behalf of Citi.
On this lawsuit, Ramchandani alleges, amongst different issues, that:
- Citi made materially deceptive statements concerning Ramchandani, and supplied materially deceptive accounts of Ramchandani’s conduct, to the DOJ, which performed an actionable function within the graduation of the DOJ’s putative prison case in opposition to Ramchandani;
- Citi knew that the statements and accounts it supplied had been materially deceptive and that Ramchandani had not engaged in prison antitrust violations; and
- Citi acted with malice, inside the which means of governing regulation. Together with by falsely figuring out Ramchandani (whom Citi knew was not culpable for a prison antitrust violation) as the only purported wrongdoer inside Citi, thereby, amongst different issues, diverting consideration from different really culpable conduct inside Citi.
There have been many discovery disputes on this lawsuit thus far. Again in October 2021, the Courtroom ordered Citi to supply to Ramchandani all the fabric they produced to the USA Division of Justice (DOJ) in reference to DOJ’s FX spot market–associated investigation of Citi.
The DOJ had said that it was open to helping Citi when it comes to offering it with the required proof because the financial institution tries to dismiss the motion introduced by the ex-trader.