A former top executive at Banc of California is accused to having sex with junior employees and doing drugs- all while on the premises of the banks headquarter’s in Irvine.
The lawsuit filed in California state court, alleges Executive Vice President and Interim CFO Francisco Turner also corralled workers to go to strip clubs, on the bank’s dime.
The suit, filed by Heather Endresen, a former managing director at the bank, also alleges the bank screwed employees out of their bonuses last year.
Executive Vice President and Interim CFO Francisco Turner (pictured) is accused of having sex with young staffers and doing drugs at the Banc of California headquarter’s office
The allegations were leveled by Heather Endresen, a former managing director at the bank
It’s claimed in the suit that those funds were improperly shifted to cook this year’s books, according to the New York Post.
Endresen claims in the complaint the bank took $7.8 million in 2016 bonuses and that the funds were moved to the next quarter, improperly putting that money under liabilities.
Endresen also alleges, in the 24-page complaint, that Mike Urtel, the head of human resources, said her complaints were ‘akin to rumor or gossip.’
Even more shockingly, she claims she was told by a lawyer at the publicly traded bank, Manisha Merchant, ‘that the company does not have a policy prohibiting employees from engaging in sexual activity in the workplace, or a policy against using corporate funds to pay for strip clubs.’
The bank operates 34 branches and has a $1billion market cap.
When Endresen complained to CEO Doug Bowers, the boss said the company had received a similar complaint about Turner from another employee.
She says he added BoC had tapped an independent investigator.
Enderson says that once she left the company, she was blackballed when prospective employers reached out to Banc of California, she says top brass lied about her success rate
Enderson says in the complaint that Bowers broke a promise to her to extend her family health insurance for six months after she left the bank- which cost her when her son had a health crisis
She also found herself being blackballed by the company when she searched for a new job.
In the suit she claims Bowers ‘lied to Ms. Edresen’s prospective employers about the quality of her work and her loan success rates.’
She also says when she brought up the alleged accounting irregularities to Turner he threatened her ‘professional reputation.’
‘We believe the action has no merit,and we intend to defend against the claims vigorously,’ a Banc of California spokesman told The Post.
‘The record should be clear, however, that we treat all matters of compliance with the utmost seriousness and any suggestion otherwise is categorically wrong. We encourage all employees to raise any area of concern and we investigate all claims thoroughly.’
It was previously reported that Turner resigned from the bank in June. He received a a $2.75 million payout and continued health-care coverage for 18 months.