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Andrew Grosso & Associates Announces Filing of Retaliation Lawsuit Against HSBC Bank on Behalf of Whistleblower John Cruz

  Andrew Grosso & Associates Announces Filing of Retaliation Lawsuit Against
  HSBC Bank on Behalf of Whistleblower John Cruz

Business Wire

WASHINGTON -- December 11, 2012

Andrew Grosso & Associates, a District of Columbia law firm, announced today
the filing of a lawsuit against HSBC Bank USA, N.A. for retaliation and
wrongful termination of John Cruz, a former Vice President and Senior Business
Relationships Manager for HSBC Bank on Long Island, New York. The lawsuit
accuses the Bank of attempting to silence and punish Mr. Cruz for reporting
suspected fraudulent accounts, used for money laundering and maintained in
violation of federal law; and terminating Mr. Cruz under false pretenses when
its coercive measures failed to deter Mr. Cruz from providing his information
to the Suffolk County District Attorney’s Office and to Special Agents from
the U.S. Department of Homeland Security.

The Complaint alleges that in 2009 Mr. Cruz discovered numerous fraudulent
accounts at the Bank, including accounts having large financial value but
belonging to companies with non-existent addresses and, in at least one
instance, an individual who did not know an account was maintained at the Bank
in her name. It also alleges that Mr. Cruz attempted to report his findings to
his supervisors at the Bank, and that they sought to silence and otherwise
punish him for doing so. Mr. Cruz’s book on his experiences, “World Banking,
World Fraud,” was published last year.

The Complaint alleges a breach of Mr. Cruz’s employment contract by the Bank;
and wrongful and retaliatory conduct against Mr. Cruz for his attempts to
fulfill his legal responsibility to report his findings to law enforcement.
The Complaint asks for compensatory and punitive damages of $10,000,000.

The lawsuit was filed on December 11, 2012 in the United States District Court
in the Eastern District of New York, Case No. CV-12-6088, and is before Judge
Leonard D. Wexler. Mr. Cruz is being represented in this lawsuit by the law
firm of Andrew Grosso & Associates, in Washington, D.C.; and Nicholas J.
Damadeo, P.C. in Huntington, New York.

Contact:

Andrew Grosso & Associates
Andrew Grosso, Esq., 202-298-6446
Agrosso@acm.org
www.GrossoLaw.com
or
Nicholas J. Damadeo, P.C.
Nicholas J. Damadeo, Esq., 631-271-7400
Nick@damadeolaw.com
www.DamadeoLaw.com