WEDNESDAY 12 AUG 2009 2:35 PM


The controversy over Deutsche Bank’s alleged violation of privacy laws refuses to go away.

Reports from Bloomberg now suggest that Germany’s biggest bank is being sued by the two men it fired for their alleged role in a spying affair.

According to “two people familiar with the matter”, who asked not to be named, former head of investor relations Wolfram Schmitt has filed a suit at the Frankfurt labour court. Rafael Schenz, the former German head of corporate security, has apparently also sued for improper dismissal.

Their sackings followed an investigation into four cases where privacy laws may have been violated by its surveillance activities. These included the monitoring of a shareholder in 2006 which allegedly took place following a discussion between the chairman of the supervisory board and Schmitt, the bank said.

Deutsche Bank’s strife looks set to continue. It now faces a probe by German financial regulator BaFin and Frankfurt prosecutors.