Citigroup is under legal scrutiny as a managing director employed by the bank since 2007 filed a lawsuit against the financial giant for sexual harassment by a former top executive.
The complainant accused Mani Singh, the former North America Markets head of cash equity execution services, of subjecting her to sexual harassment, abuse and even death threats, according to Reuters.
The complainant, Ardith Lindsey claimed that her complaints about Singh were not taken seriously by Citigroup, further asserting that the bank fostered a “notoriously hostile” environment within its equities division, the Reuters report added. The lawsuit also sheds light on a work culture where men allegedly ranked female colleagues based on looks, discussed sexual preferences openly, pressured women to visit strip clubs, and ridiculed sexual harassment training and women’s initiatives, the report added.
Lindsey, who served as America’s head of electronic sales trading, has been on medical leave since late 2022, citing post-traumatic stress disorder, anxiety, depression, memory loss, and a significant decline in her IQ.
The lawsuit, filed in Manhattan federal court, seeks damages for violations of New York State and city civil rights laws, the Reuters report mentioned.
While Singh is not named as a defendant in the lawsuit, Citigroup has vowed to defend against Lindsey’s claims. The bank asserted its commitment to a workplace free from discrimination and harassment, condemning Singh’s alleged conduct as “deplorable.” However, Citigroup highlighted discrepancies in Lindsey’s account, stating it differs significantly from her previous statements.
Lindsey accuses Singh of years of volatile abuse, often fuelled by alcohol or drugs, with alleged threats to ruin her career and reputation if she resisted his advances. Singh reportedly referred to himself as Frank Underwood, a fictional character known for manipulation in the TV show House of Cards, added the Reuters report.
Following the end of their relationship in October 2022, Lindsey claims Singh bombarded her with incessant phone calls and threatening messages. Citigroup distanced itself from Singh only after Lindsey disclosed the messages, characterising his departure as due to “personal and family reasons” without informing the FINRA brokerage regulator about his alleged misconduct.
Lindsey’s lawsuit also invokes the New York Adult Survivors Act, seeking damages for an alleged sexual assault by another Citigroup executive after a December 2007 holiday party. The law provides a one-year window expiring on November 23 for accusers to sue over historical misconduct, even if statutes of limitations have expired.
The report further revealed that Citigroup faces accusations of repeatedly tolerating misconduct by turning a blind eye, as Lindsey’s lawyer, Jeremiah Iadevaia, claims the bank “repeatedly emboldened bad behaviour.”
In response, Citigroup maintains that it placed Singh on leave upon learning about the text messages, and he resigned before the investigation concluded. The case, identified as Lindsey v Citigroup Global Markets Inc., is pending before the US District Court for the Southern District of New York.
(Edited by : Sudarsanan Mani)
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