New York, May 04: JPMorgan Chase, the world’s largest banking group, is once again embroiled in controversy.
A case has been filed in New York Supreme Court alleging that executive director Lorna Hazdini abused her power and sexually assaulted a junior colleague.
Lorna Hazdini, 37, works in the bank’s leveraged finance division. The complaint filed by a former colleague who worked in this division has mentioned the following serious points.
The complainant has alleged that she suffered sexual harassment and psychological harassment for months. The complaint states that Lorna made numerous unreasonable demands and pressured her in exchange for promotions and career advancement. The complainant has also said that she had to face racial slurs and derogatory remarks.
The threats of career termination and dismissal if the demands were not met. Despite repeated refusals and continued mental pressure, the complainant left the bank and tried to find work elsewhere. However, he alleged that he was prevented from finding new employment even then.
JPMorgan Chase has categorically denied all these allegations. Although several employees cooperated with the investigation, the company said that the complainant did not share enough information.
The complainant has sought punitive damages for the mental anguish, financial loss and reputational damage suffered by him. In addition, he has requested the court to bring significant changes in workplace policies to prevent such incidents from recurring.
The case has given a new dimension to the debate about how those in high positions in the corporate sector can abuse their power. Questions have now been raised globally about the transparency of the organization and the safety of employees. A similar verdict was recently filed in the Indian company TCS. There were reports of attempts to convert many people, and of sexual harassment of several staff members.