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Citigroup Trader Fired Over 5-Word Message Uses 2-Second Defense

  • David Madaras testifies on second day of employment lawsuit
  • Madaras says managers misread thread of message responses

A Citigroup Inc. currencies trader fired for sending a five-word message to a rival said his defense comes down to two seconds. 

David Madaras, who spent four years at Citigroup before he was fired in December 2014, appeared to "validate" a rival trader’s disclosure of a client name when he responded "he’s a seller/fking a," in an electronic chat, bank officials said in court filings. Madaras countered that his message was sent two seconds after the rival’s post and was actually in response to an earlier discussion.