A former Goldman Sachs trader reportedly promised his mom he was getting a $13 million bonus, and he's fighting to keep his word.
Deeb Salem has filed a legal challenge against the firm, which gave him an $8.25 million bonus in 2010, which he said was light by nearly $5 million, according to a report in the New York Post.
Though the Financial Industry Regulatory Authority already has ruled against Salem's claims, he has taken the battle to arbitration. He's seeking the full bonus even though he has admitted betting against a mortgage bond issue that Goldman sold to its customers.
Goldman, as might be expected, is having none of Salem's claims.
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"These claims are utterly ridiculous, which is why they were rejected by a FINRA panel, and unworthy of any further response," Goldman said in a statement to the Post.
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