HSBC Calls Banker's $2.4 Million Bonus Suit a Waste of Time
- Rajesh Parmar accuses bank of ‘capricious conduct’ over bonus
- Bank says he can’t have bonus as he helped clients evade tax
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A former HSBC Holdings Plc banker filed a lawsuit after being told he couldn’t have his bonus because he helped clients cheat on their taxes. The bank responded by counter-suing him for wasting its time.
Rajesh Parmar is suing HSBC Private Bank U.K. for more than 1.8 million pounds ($2.4 million) in unpaid bonuses and damages, accusing it of “arbitrary, perverse and capricious conduct” when it told him in 2016 that it would not pay his bonus, according to his lawsuit, which was filed in September and released this week. Parmar was laid off in 2012.