A City trader who made £50 million in five months for a hedge fund is suing his former boss after he was denied a £4.5 million performance bonus.
Robert Gagliardi, nicknamed Gags, claims he made up to 97 per cent of Evolution Capital Management's revenue, and says its refusal to pay him the bumper perk was a breach of contract.
However, founder Michael Lerch, a former Princeton University footballer-turned-investor, says the bonus was only ever discretionary, and that there were question marks over Mr Gagliardi's behaviour.
The High Court in London heard Mr Lerch - whose friends include Red Hot Chilli Peppers star Flea - texted a senior colleague saying Mr Gagliardi would 'learn the meaning of discretionary very fast' if he stepped out of line.
Head of trading Sumner Garber messaged Robert Toresco, a trader based in Hong Kong, saying: 'It's all upside to just say f*** you at this point. I call dibs on his bonus so I'm rich.'
