Rose hushed – Court grants injunction against former First Global Bank employee

First Global Bank yesterday obtained an injunction in the Supreme Court restraining Rohan Rose, who was dismissed from the bank in 2009, from disclosing confidential information about the bank and its clients.

The order restrains Rose “whether by himself, his attorneys-at-law, servants, or agents, or any of them, or otherwise howsoever” from making use of any confidential information obtained by reason of his capacity or office while employed to the bank.

This includes, but is not limited to, customer information, discussions at and minutes of, internal meetings, and internal correspondence between staff and directors of the bank.

First Global Bank is suing Rose for the sum of US$7,643,131.43 as damages for breach of fiduciary duty, negligence, breach of contract, fraud, and restitution for and by reason of unjust enrichment.

Rose was dismissed following internal investigations which led to the discovery of unauthorised trading in US treasuries, resulting in losses of US$19.9 million.

Rose was arrested and charged with two counts of conspiracy to defraud, forgery, uttering a forged document, causing money to be paid by false pretences and causing money to be paid by forged documents.

The injunction remains in force until June 4, at which time it will be further considered by the court.

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