03.06.13

Big Bank Whistleblower Files Lawsuit

Posted in Wrongful Termination at 2:17 pm by kevin

A former employee and whistleblower of alleged fraudulent practices has filed a wrongful termination lawsuit against Deutsche Bank AG. The former employee Gary DeDilectis said he repeatedly pointed out to his banking superiors potential fraudulent practices and was fired without warning as a result.

According to Fox Business, “Gary DeDilectis, who worked as a director of equity operations and asset servicing at the bank for more than four years, alleged that the bank violated the whistleblower protections of the 2002 Sarbanes-Oxley Act.

“In his lawsuit, filed in U.S. District Court in Manhattan, DeDilectis contended he was fired in January 2012 after repeatedly telling his superiors about ‘potentially fraudulent conduct’ by Deutsche Bank. His job was terminated ‘without warning or any explanation,’ he said.”

The lawsuit states that during the Thanksgiving 2011 break, bank systems were upgraded and as a result over $1 million in overcharges went to various clients who were unaware of the costs.