The strange story of a Goldman Sachs whistleblower who’s taking aim at top execs’ dealmaking


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Christopher Rollins, a 16-year veteran of Goldman Sachs, sued the bank this week over his termination.
Rollins claimed he was unfairly terminated over his role in a series of transactions involving an unnamed financier who had legal issues in the past. He’s seeking $50 million in damages.
The lawsuit set tongues wagging on Wall Street and in the City of London, given that it names several of Goldman Sachs’ most senior staff in London.
Multiple people familiar with the matter believe the financier in question is German entrepreneur Lars Windhorst, who’s been referred to as Germany’s “modern-day Medici.”
Mike Sitrick, a spokesman for Windhorst, said in an emailed statement that “we strongly deny that the unnamed executive mentioned in the lawsuit is Lars.”

This story has everything.

A lawsuit Thursday sent Wall Street and the City of London buzzing, including mentions of a whistleblower, an unnamed “notorious European businessman,” and a handful of Goldman Sachs bankers, one of whom is a member of the incoming CEO’s inner circle and others known internally as the Aussie mafia.

Christopher Rollins, a managing director and 16-year veteran of the bank, sued the firm over what he alleges was an unfair termination over his role in a series of transactions involving a financier that he didn’t name, according to the suit which seeks $50 million in damages.

The complaint names Jim Esposito, promoted this week to co-head Goldman’s securities division, as a defendant, and details the involvement of Goldman bankers Michael Daffey and John Storey, and other leaders.

The suit talks about a number of transactions that Goldman conducted on behalf of the financier, who had legal issues in the past, according to the complaint.

Multiple people familiar with the matter believe the financier in question is German entrepreneur Lars Windhorst, though Mike Sitrick, a spokesman for Windhorst, said in an emailed statement that “we strongly deny that the unnamed executive mentioned in the lawsuit is Lars. The allegations in the suit do not support that supposition.”

Windhorst, chairman of a firm called Sapinda, is said to be a protégé of former German Chancellor Helmut Kohl. In the past, he’s filed for bankruptcy and been involved in numerous legal battles. In 2012, an article in Financial News referred to him, approvingly, as Germany’s “modern-day Medici.”

According to the complaint, the entire affair started when Daffey and Storey met with the financier in 2015 to explore ways the firm could bring him on as a client.

The two are among the most senior members in Goldman’s equities business. The FT reported that Storey attended the infamous President’s Club dinner in London earlier this year where the newspaper has reported that women servers were groped and propositioned. Daffey was also on the President’s Club invite list, though the firm has said he didn’t attend.

Hailing from Australia, they are known by some internally as the Aussie mafia, according to some people who know them. Michael DuVally, a Goldman spokesman, declined to comment on the characterization, and neither exec returned phone …read more

Source:: Business Insider

      

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