Seagate Seeks Coverage For Exec's €3M Theft

Law360, New York (November 2, 2011, 6:08 PM EDT) -- Disk drive maker Seagate Technology PLC sued National Union Fire Insurance Co. of Pittsburgh, Pa., in California on Monday for indemnification of a €2.9 million ($3.7 million) embezzlement perpetrated by a since-imprisoned executive of a Seagate subsidiary.

From June 2007 to March 2009, Frank Markus, then a managing director at the Netherlands office of Seagate unit i365 Inc., transferred €2.7 million from three i365 bank accounts to his personal accounts and charged personal expenses on an i365 credit card, according to Seagate's complaint against National Union...
To view the full article, register now.




Case Information

Case Title

Seagate Technology v. National Union Fire Insurance Company of Pittsburgh, PA

Case Number



California Northern

Nature of Suit



Paul Singh Grewal

Date Filed

October 31, 2011

Law Firms


UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.