Finra orders Citi to pay $4 million in wrongful dismissal case

Broker Christian S. Gherardi of Miami had sought $16.5 million in damages.
MAR 01, 2018

A Financial Industry Regulatory Authority Inc. arbitration panel has awarded Christian S. Gherardi, a former broker at Citigroup Global Markets in Miami, approximately $4 million in a case involving wrongful dismissal. Finra ordered Citigroup to pay Mr. Gherardi $3.452 million in compensatory damages, $150,000 plus interest for lost quarter trailing commissions, $395,830.22 plus interest for deferred compensation and $750 for the nonrefundable portion of the filing fee Mr. Gherardi paid Finra. The Finra panel also assessed the total hearing session fees of $28,950 to Citigroup. Mr. Gherardi had sought $16.5 million in compensatory and punitive damages. He joined Citigroup in 1996 and was dismissed in 2016. He now is employed in Miami by Bulltick, a brokerage, asset management and investment banking firm that specializes in Latin America.

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