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,...

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