Ex-City National VP Says He Was Fired For Tax Whistleblowing

Law360 (June 16, 2021, 3:59 PM EDT) -- A former senior vice president for the Royal Bank of Canada's U.S. subsidiary City National Bank sued his ex-employer in California federal court, claiming he was wrongfully fired because he raised concerns about possible tax fraud and misconduct.

Fausto Bustos told the court his former employer fired him for his complaints regarding a reorganization of City National's technology divisions, which included accounting errors that would allow the bank to inflate its assets, overstate its profits and claim larger tax benefits, according to the complaint filed Tuesday.

"In reality, Mr. Bustos was fired because he complained about City National's lax internal controls,...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!