U.S. District Judge Deborah Batts of the U.S. District Court for the Southern District of New York has refused a motion filed by Citigroup and Bank of America to dismiss a suit charging them with hiding hundreds of millions of dollars in losses by a currency trader. Allied Irish Banks had charged the banks with allowing foreign exchange trader John Rusnam of Allied unit Allfirst Bank to conceal some $691 million in losses through "prime brokerage" accounts between 1997 and 2002. The suit claims the banks "made hundreds of fraudulent omissions."