A BNP Paribas SA director fired during a probe into foreign-exchange market manipulation is seeking more than 5.1 million pounds ($6.6 million) compensation from his former employer, saying he’ll work until he’s 80 years old.
Robert de Groot, the 50-year-old former global head of foreign-exchange spot trading at the French lender, said he was fired to make his own disclosures of misconduct at the bank seem less credible to regulators, according to a witness statement made public Wednesday. De Groot said employees were deliberately inflating swaps data by about $5 billion a day after he joined the bank in 2010 -- a move that would "artificially" increase the bonuses of sales people and their managers, according to his statement.
