David van Duyn, a former lawyer at Fidelity Investments’ risk oversight and enterprise compliance unit, has sued the company, charging it failed to comply with anti-money laundering laws, Reuters reports.
Specifically, van Duyn said that Fidelity executives ordered him not to monitor transactions and to falsify documents.
Fidelity has counter-sued, charging van Duyn with breaking a confidentiality agreement that precluded him from divulging Fidelity business. In addition, Fidelity said that the lawyer falsified an e-mail about regulation, for which he was fired in December 2006.
A Fidelity spokesman, Vincent Loporchio, said the company meets its regulatory obligation.
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