Former Goldman Trader Sues to Get $20 Million in Bonuses
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A former Goldman Sachs Group Inc. trader who helped lead the firm’s bets against subprime mortgages before the financial crisis asked a court to throw out an arbitration ruling denying him more than $20 million in unpaid compensation.
Deeb Salem encountered a “kangaroo court” and a “shocking and blatant miscarriage of justice” as Financial Industry Regulatory Authority arbitrators didn’t allow him to call some of Goldman Sachs’s top trading executives as witnesses, he said in a complaint today in New York State Supreme Court. Salem, 35, said in the complaint that members of the industry-funded regulator’s arbitration panel called his case “ridiculous” and “bulls---” during a hearing.