Ex-Deutsche Bank Exec Accused Of Stealing $13M

Law360 (November 15, 2006, 12:00 AM EST) -- A longtime employee of Deutsche Bank AG has been indicted on one count of bank fraud for allegedly stealing over $13 million from the German financial giant.

On Tuesday, U.S. authorities formally charged John Quinn with fraud, indicting the former assistant vice president of Deutsche Bank's New Jersey office.

Quinn was arrested in October, after authorities caught wind of an alleged sham that the executive had been carrying out for several years.

In June 2004, Quinn entered a company called Quorum Investments Inc. into Deutsche Bank's computer system, allegedly pretending that the company was a lender for which Deutsche Bank acted...

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