NEW YORK, March 6 A former employee sued
Deutsche Bank AG on Wednesday, claiming he was fired
for speaking out and accusing the bank of ignoring his concerns
about its internal controls and charges to clients.
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.
Duncan King, a spokesman for the bank, said, "We have
investigated these allegations and found his claims to be
DeDilectis began working for the bank in New York in late
2007, and later moved to Jacksonville, Florida, where the
company had moved some of its securities operations, according
to the lawsuit.
He said in the lawsuit that while at Deutsche Bank he did
not report his allegations to authorities, preferring to seek an
internal resolution "by escalating his concerns to appropriate
Among his allegations was that an upgrade of the bank's
systems during the Thanksgiving break in 2011 led to
approximately $1 million of overcharges in United Kingdom stamp
taxes to various clients, who were never apprised of those
The lawsuit also said DeDilectis alerted supervisors that
the bank's internal accounting systems repeatedly suffered from
outages, leading to instances in which customers' accounts were
improperly comingled with the bank's own positions.
DeDilectis is seeking reinstatement of his job, back pay,
benefits and other relief, according to the lawsuit.
The case is DeDilectis v. Deutsche Bank Securities, Inc. et
al., U.S. District Court for the Southern District of New York,