NEW YORK, NY—Rasco Klock Partner Blaine Bortnick, Esq., based in the firm’s New York office, recently achieved a $1.361 million arbitration award against Citigroup Inc., for his client Baris Ozkaptan, a foreign exchange trader. The award is final.
In May 2015, the client was terminated by Citibank in London as part of a global investigation by regulatory bodies around the world in foreign exchange trade. The investigation also entailed numerous other banks. Although the client was not implicated in any wrongdoing as a result of the investigation, Citibank nevertheless terminated his employment and forfeited his substantial deferred compensation. The arbitration was before the American Arbitration Association (AAA).