In a complaint filed in Manhattan federal court, Julia Carreon, who was global head of platform and experiences, said Sieg initially supported her and helped her obtain a promotion soon after starting his job in October 2023, but quickly began a “campaign of unrelenting and egregious sexual harassment, manipulation, and grooming.”

She said the bank’s “weaponized” human resources department then began its own campaign to force her out, “consistent with HR’s perpetuating Citi’s decades-long history of bias and harassment against women,” until she left in June 2024.

Citigroup was sued by former managing director Julia Carreon, who said she was forced out after being sexually harassed by Andy Sieg, who oversees the bank’s wealth management unit. LinkedIn

Citigroup said in a statement: “This lawsuit has absolutely no merit and we will demonstrate that through the legal process.”

Sieg is not a defendant. Lawyers for Carreon did not immediately respond to requests for additional comment.

Bank defending against other harassment claims

Carreon is seeking unspecified damages for alleged racial discrimination under federal law, and racial and sexual discrimination under New York state and city laws.

Bloomberg News and the Financial Times reported last year on allegations that Sieg intimidated and sidelined employees, with Bloomberg saying men as well as women raised concerns about his conduct.

Sieg quickly began a “campaign of unrelenting and egregious sexual harassment, manipulation, and grooming,” according to the lawsuit. Citigroup

Sieg did not respond to requests for comment for Bloomberg’s article and declined to comment for the Financial Times’ article.

Citigroup is the third largest US bank by assets and the largest led by a woman. Sieg is one of Chief Executive Jane Fraser’s highest-profile hires.

The bank is also defending against a lawsuit by another managing director, Ardith Lindsey, who sued over a different supervisor’s alleged violent threats and Citigroup’s alleged “pervasive” culture of sexual harassment and gender discrimination.

Citigroup is the third largest US bank by assets and the largest led by CEO Jane Fraser. REUTERS

Treated ‘much differently’ from men

In her complaint, Carreon said Sieg treated her “much differently” from her male colleagues, calling and texting her multiple times a week and sharing confidential information.

She said Sieg soon began insisting she sit close to him at meetings, and insinuating to others that they had an intimate relationship.

Carreon said Sieg also told two male colleagues in her presence that he and she shared a “secret song,” by the rock band Kings of Leon, causing the room to fall silent.

In her complaint, Carreon said Sieg treated her “much differently” from her male colleagues, calling and texting her multiple times a week and sharing confidential information. LinkedIn

According to the complaint, Sieg stopped talking with Carreon in May 2024, when she learned that human resources had been investigating false allegations that she was a bully and advanced her career because she had “special access” to Sieg.

“Carreon understood from experience that HR would circle the wagons to protect the men of Citi,” the complaint said. “Citi’s takedown was successful.”

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Glenn Berntson, an engineering director for Google Ad Manager, acknowledged the potential remedy during the second week of a high-stakes antitrust trial in Virginia federal court. He was called as a witness by Google’s defense lawyers.

Providing “publishers with these detailed insights, I think, is a good idea,” Berntson said during cross-examination by the Justice Department’s attorneys, according to Bloomberg. “The specifics is something we’d have to explore.”

Google is willing to share more advertising data to publishers to address concerns about its illegal monopoly over digital advertising technology. AFP via Getty Images

Google is trying to wriggle out of a more damaging forced breakup of its digital advertising empire. The DOJ has argued that Google should be required to sell its key ad exchange, AdX, to restore fair competition and protect news publishers and advertisers that rely on the system.

Any remedy short of divestiture should be a “hard pass,” according to Jason Kint, the CEO of Digital Content Next, a trade group that represents online publishers.

“What publishers need isn’t another last-minute desperate gesture from Google as they try to avoid absolutely necessary structural remedies,” said Kint. “The Department of Justice has put on a brilliant case presenting remedies that will actually stop Google’s illegal conduct harming publishers, deny Google the fruits of it, restore competition and to avoid re-monopolization going forward.”

US District Judge Leonie Brinkema, who has final say over which remedies to implement, ruled in April that Google had violated the Sherman Act by dominating the online publisher ad server market, as well as the ad-exchange market that connects ad buyers to sellers.  

The shared data could include details on how Google’s ad server determines which display ads to show – boosting transparency about the inner workings the auction system that the company uses to buy and sell ad space in real time, according to Berntston.

The DOJ has also proposed that Google make the auction process more transparent by sharing data, but Berntson testified on the stand that simply releasing source code about the auction process wouldn’t necessarily help publishers understand it.

Instead, Berntson said Google could release a breakdown explaining its digital auction process. At the same time, he admitted that larger publishers with more resources would likely want to see the source code itself.

US District Judge Leonie Brinkema ruled in April that Google had violated the Sherman Act by dominating the online publisher ad server market, as well as the ad-exchange market that connects ad buyers to sellers. REUTERS

On the stand, Berntson was “incredibly non-committal and fairly vaguely acknowledged that transparency is good,” according to Arielle Garcia, the COO of Check My Ads, a digital ad industry watchdog.

“Technical documentation isn’t a substitute for allowing publishers to independently audit the data about their own campaigns or to see the underlying logic, so this is yet another surface-level commitment that doesn’t do much,” Garcia said.

News publishers and other Google critics have long complained that the auction process for ad sales is too opaque and leaves businesses at a loss to explain how ads are selected.

The trial’s remedy phase is expected to conclude as soon as this week. Google has vowed to appeal Brinkema’s original finding that it has a monopoly in digital advertising.

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Attorneys for Google, led by CEO Sundar Pichai, said the DOJ’s proposal for forced divestiture could break the technology, causing disruption for the businesses that rely on the system to do business.

Rather than a breakup, Google has floated making the tools easier to use and more compatible with third-party tools.

Attorneys for Google, led by CEO Sundar Pichai, said the DOJ’s proposal for forced divestiture could break the technology, causing disruption for the businesses that rely on the technology to do business. AP

However, in a key moment last week, Google advertising executive Tim Craycroft admitted under the DOJ’s questioning that the company held internal discussions about the feasibility of selling part of its ad business as recently as last year, The Information reported.

The outcome of the case represents a potential existential threat for Google, which dodged the worst-case scenario in a separate antitrust case targeting its online search business earlier this month.

In that case, US District Judge Amit Mehta shot down the DOJ’s request for a forced selloff of Google’s Chrome web browser. Instead, he required Google to share more search data with rivals.

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MGM Resorts’ current COO, Corey Sanders, plans to retire at the end of the year after working with the company for 30 years. He’s been in the COO role since June 2010, and originally started at the company as a tax director after a career as a tax specialist at an accounting firm. He had become the CFO of MGM Grand after three years.

Ayesha Molino’s COO credentials

Ayesha Molino’s career has been a little more on the political side. Between 2005 and 2017, Molino was involved in government departments during the Bush, Obama, and the first Trump administrations.

Her earliest work in government was as an attorney for the Office of Chief Counsel for International Commerce. She eventually worked alongside now-dead US Senator Harry Reid until 2017.

Since then, she has been with MGM Resorts International in a trio of roles. From 2017 to 2021, she used her background for her role as Senior Vice President for Government Affairs, moving to Public Affairs, and now will be taking over the COO role of MGM Resorts after some time as President and COO of ARIA and Vdara resorts.

Bill Hornbuckle, President and CEO of MGM Resorts, said this about the upcoming change of guard for the COO role:

“Ayesha is an exceptionally gifted strategic thinker and operator who excels at managing through complexity, earning her the respect of her colleagues and peers throughout the company.

“In fact, under Ayesha’s leadership, ARIA has posted all-time records in EBITDAR, annual revenue, hotel and casino revenue, ADR and Gold+ NPS scores, to name just a few.

“Ayesha’s ability to unite teams, drive results, and navigate challenges makes her the perfect leader to succeed Corey as COO. I am confident she will continue to help shape our future growth and success.”

Gary Fritz takes MGM CCO role

Fritz, the current CCO and President of MGM Digital, has a storied career, working at Rakuten, TripAdvisor, Expedia, and McKinsey & Company. He was also the Head of Gaming for IAC.

On Fritz, Hornbuckle said:

“Gary has been instrumental in establishing and advancing our digital strategy through acquisitions, strategic partnerships and organic expansion of our BetMGM brand into new international markets like Brazil.

“He is a visionary leader with keen insights and instincts, and his new role will bring together all of Digital plus Gaming, Marketing and Advertising as we look to accelerate our omni-channel strategy and unlock significant growth in digital and iGaming.”

Featured image: MGM Resorts

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Paul Steed, 58, appeared in federal court in Bridgeport, Connecticut.

He also agreed to pay $28.4 million in restitution to Mars and owes another $10 million in back taxes to the Internal Revenue Service, U.S. Attorney for Connecticut David Sullivan said in a statement.

Paul Steed, 58, a former executive for Mars Inc., pleaded guilty to fraud and tax charges stemming from his theft of $28 million from the company. jetcityimage – stock.adobe.com

Steed, of Stamford, Connecticut, who is free on $5 million bail, did not immediately return messages left at phone numbers and emails listed for him in public records.

His lawyer, former U.S. Attorney for Connecticut Deirdre Daly, did not immediately return phone and email messages Thursday.

A dual U.S. and Argentine citizen, Steed was once a respected sugar market expert for Mars Wrigley, where his last position was global price risk manager.

The company is a subsidiary of McLean, Virginia-based Mars Inc., the maker of M&M’s, Snickers, Skittles, Altoids mints and Doublemint gum, as well as other food products and pet food.

A federal indictment accused him of stealing from Mars beginning in about 2013 through various schemes, including diverting funds to companies he set up.

Steed appeared in court on Thursday while also agreeing to pay $28.4 million in restitution to Mars. Google

Steed sent the lion’s share of the stolen funds, more than $26 million, to one of his companies, MCNA LLC, which was created to mimic an actual Mars company, Mars Chocolate North America, prosecutors said.

Authorities say they have seized more than $18 million from Steed’s bank accounts, and Steed has agreed to forfeit the money.

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The government is also seeking to liquidate a home in Greenwich, Connecticut, that Steed allegedly purchased using $2.3 million of the stolen cash.

Prosecutors say Steed sent another $2 million to Argentina, where he has relatives and owns a ranch.

Steed pleaded guilty to two counts of wire fraud and one count of tax evasion.

Sentencing is set for Dec. 9.

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In an interview with the outlet “Business of Fashion” (BOF), the beauty brand’s chief marketing officer, Kory Marchisotto, spoke about what went wrong with its ad with Rife, explaining that causing outrage was never their intention.

“Obviously, we’re very surprised,” she said. “There is a big gap between our intention and how this missed the mark for some people… We always aim to deliver positivity, and this one didn’t.”

“So we find ourselves in a position where, quite honestly, that doesn’t feel good for us,” Marchisotto added.

The cosmetics brand published the ad on major social media platforms last week. The commercial featured Rife and drag queen Heidi N Closet as “E.l.f.ino & Schmarnes,” a spoof lawyer duo in a legal commercial fighting for consumers’ rights to inexpensive cosmetic products.

Marchisotto said that e.l.f cosmetics was “very surprised” from the backlash they have received. @elfcosmetics/Instagram

However, the clip took major heat from online users, including several major beauty and fashion influencers, who were offended that e.l.f. would employ Rife after he joked about domestic abuse during his 2023 stand-up special, “Natural Selection.”

In the special, the comic told the story of when he and his friend noticed a waitress with a black eye while they were eating at a restaurant in Baltimore. He explained that the two of them questioned why the restaurant owners wouldn’t have the employee work in the kitchen to avoid customers asking questions.

“Yeah, but I feel like if she could cook, she wouldn’t have a black eye,” Rife joked.

The backlash of Rife in the ad is from his previous jokes about domestic abuse. @elfcosmetics/Instagram

When people reacted poorly to the joke at the time, Rife doubled down, putting out a statement that directed social media users to a link offering an “apology” if they had ever been offended by a joke he told. The link brought users to a website where they could purchase special-needs helmets.

In response to e.l.f.’s new ad last week, “Nikkietutorials,” a cosmetics influencer with almost 9 million followers on TikTok, commented, “aaaaaaandddd you lost me… Matt Rife out of ALL people? so disappointed.”

Others trashed the video in its comment sections, too. Maddy Lucy Dann, a TikTok user with 1.4 million followers, wrote, “In Matt Rife’s Netflix stand-up special Natural Selection he opened with a domestic violence joke, implying a woman wouldn’t have a black eye if she could cook.”

Rife made the controversial jokes during his 2023 stand-up special, “Natural Selection.” @elfcosmetics/Instagram

The beauty brand responded to the backlash, putting out a statement last Wednesday acknowledging that working with Rife was a mistake.

“You know us, we’re always listening and we’ve heard you. This campaign aimed to humorously spotlight beauty injustice. We understand we missed the mark with people we care about in our e.l.f community,” e.l.f. stated.

Marchisotto said they went with Rife because 80% of his TikTok audience is female. @elfcosmetics/Instagram

During her interview with BOF, Marchisotto explained why e.l.f. went with Rife for the ad campaign. She noted how 80% of Rife’s TikTok audience is female, with 75% under the age of 34 – “right in the sweet spot” of the makeup brand’s target audience.

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The executive added that at the time e.l.f. built its campaign around Rife, he was getting 80% positive engagement from his audience, so the brand thought it was a safe bet.

“We [are] very much known for operating in real time, that’s what it means to be in the cultural zeitgeist. So we’re not looking in the rearview mirror when we’re operating the real-time marketing machine,” she said.

Rife has yet to reply to Fox News Digital’s request for comment.

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Paul Steed, of Stamford, Connecticut, is accused in a federal indictment of stealing more than $28 million from Mars since about 2013 through various schemes, including diverting funds to companies he set up. He is charged with seven counts of wire fraud and two counts of tax evasion.

Steed, 58, a dual U.S. and Argentine citizen, pleaded not guilty in federal court in Bridgeport on Wednesday and was ordered detained pending trial. A U.S. magistrate judge said Steed was a flight risk and noted that while the government has seized $18 million of the allegedly pilfered funds, several million dollars remain unaccounted for and Steed has strong connections to family in Argentina.

Prior to his arrest, Steed served on a U.S. trade advisory committee for sweeteners as well as on industry group boards, while giving presentations at conferences. jetcityimage – stock.adobe.com

Steed’s lawyer, federal public defender Phoebe Bodurtha, did not immediately respond to an email seeking comment Thursday.

His wife, Martina Steed, told The Associated Press in a brief phone call that she did not know all the facts of the case and declined further comment.

Mars Inc. said in a statement that the case involves “the action of a single individual who sought to exploit the organization for personal gain.”

“We fully cooperated with law enforcement to see this matter quickly brought to justice and always remain committed to maintaining the highest ethical standards and integrity in all our operations,” it added.

Steed worked remotely from his Stamford home as global price risk manager for Mars Wrigley, according to federal prosecutors. The company is a subsidiary of McLean, Virginia-based Mars Inc., the maker of M&M’s, Snickers, Skittles, Altoids mints and Doublemint gum, as well as other food products and pet food.

Steed pleaded not guilty in federal court in Bridgeport on Wednesday and was ordered detained pending trial.

Steed and his wife appeared to be living beyond their means, according to the judge’s order authorizing his pretrial detention.

Steed’s annual salary was about $200,000 while his wife was making $40,000 to $50,000 a year as a hair stylist, Magistrate Judge S. Dave Vatti said in the order. Yet they paid $2.5 million in cash in 2023 for a property in wealthy Greenwich, Connecticut, and own a mortgage-free home in Stamford worth $1 million, he wrote.

Steed also sent $2 million over the past several years to relatives, other people and entities in Argentina, where he apparently owns a cattle and tea ranch, according to the order.

Steed and his wife appeared to be living beyond their means, according to the judge’s order authorizing his pretrial detention. REUTERS

In July 2012 he set up a company, Ibera LLC, and a year later he began submitting false invoices from it to Mars, according to the federal indictment. The scheme allegedly went on until December 2020, with Steed stealing nearly $580,000 with the bogus invoices.

A bigger scheme beginning in 2016 would result in the diversion of millions of dollars from Mars through another Steed-created company, MCNA LLC, the indictment said. Prosecutors say Steed told certain sugar refineries who were buying “re-export credits” from Mars to send the money to MCNA instead.

Steed also used MCNA in other scams including one involving the theft of more than $11 million from the sale of Mars’s shares in a financial services company, according to the indictment.

Steed was appointed in early 2021 by then-U.S. Agriculture Secretary Sonny Perdue and U.S. Trade Representative Robert Lighthizer to serve on an agricultural trade advisory committee for sweeteners and sweetener products.

In a LinkedIn posting previewing a commodities conference in New York City last year, Steed was listed as serving in several sugar industry groups, including being a former president of the New York Sugar Club. He also was a member of the Intercontinental Exchange’s Sugar Contract Committee and a board member of the U.S. Sugar Users Association.

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Han Jong-Hee, the co-chief executive of Samsung Electronics and a nearly four-decade veteran of the South Korean consumer technology giant, died on Tuesday.

Mr. Han, who was 63, suffered a sudden heart attack, according to a company spokeswoman.

Mr. Han had shared chief executive duties with the head of Samsung’s semiconductor business since 2022, and was also a member of the board. He had run Samsung’s consumer electronics business since 2021 and a year later added the digital appliance operation to his brief. Previously he oversaw the group that makes the visual displays for Samsung’s wide variety of electronic devices.

Mr. Han joined Samsung in 1988 after graduating from Inha University in Incheon, South Korea, with a degree in electrical engineering. He joined Samsung shortly after the death of its founder, Lee Byung-chull, during a pivotal period in the company’s history.

Mr. Lee’s son and successor pushed Samsung relentlessly to weather the technological changes of the 1990s and 2000s to dominate the market for flat-screen displays and mobile phones.

Samsung is the largest and most successful of the conglomerates known as chaebol that transformed South Korea’s economy into a global export powerhouse. Samsung Electronics accounts for a significant portion of the country’s exports. Samsung is one of the most popular brands in the global smartphone market, where it competes with Apple and Xiaomi. It is also the world’s largest maker of memory chips used in everything from electric cars and smart watches to advanced artificial intelligence servers.

Mr. Han is survived by his wife and three children, the company said.

There were no plans in place yet for who would succeed him at Samsung, it added.

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