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Richard Renner recently posted discussion of BB&T's refusal to reinstate whistleblower Amy Stroupe. An article, appearing today on Thebigmoney.com gives us a more in-depth look at the case. While working at BB&T bank, Stroupe was an investigator who uncovered a $20 million ponzi scheme. Discovering potential real estate fraud, she informed her superiors and persistently pursued the case.  As a result, she was terminated.

Joseph Yohe, a former regional fraud manager for BB&T testified during the case that the bank had a “double standard” when it came fraud committed by tellers as opposed to top income-producers.

You can read the article here.

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We reported earlier on the hearing and decision in Amy Stroupe's SOX whistleblower case against BB&T bank in North Carolina. Today, the Winston-Salem Journal is reporting that BB&T is refusing to reinstate Stroupe. BB&T will put Stroupe back on the payroll, but will not permit her back on the job. Administrative Law Judge Jeffrey Tureck found that BB&T's original reasons for firing Stroupe were "nonsensical." This decision to pay Stroupe but not let her perform her duties is also nonsensical. BB&T claims that they laid off corporate investigators in Stroupe's region, and that is why they cannot reinstate her. If they are going to pay her anyway, they might as well return her to her duties. As Stroupe uncovered a Ponzi scheme by one BB&T official, she might help the bank uncover other frauds. Indeed, it appears BB&T needs a good fraud investigator. In announcing its decision to appeal Judge Tureck's decision, BB&T explained that it had been the victim of a fraud. By refusing to obey Judge Tureck's immediate reinstatement order, BB&T is risking an enforcement action by the Department of Labor under 49 U.S.C. 42121(b)(5). Stay tuned.

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I reported here last September about Amy Stroupe's whistleblower hearing against BB&T bank. While working as an investigator for the bank, she uncovered a $20 million ponzi scheme. A bank official and some developers used a phony land development to recruit customers. After BB&T fired Stroupe, she complained to the U.S. Department of Labor under the Sarbanes-Oxley Act (SOX).

Yesterday, Administrative Law Judge Jeffrey Tureck issued a decision ordering BB&T to reinstate Stroupe, expunge her record, and pay backpay, interest and attorney fees. Judge Tureck rejected BB&T's claims that Stroupe had released confidential information. He found that she had not been insubordinate, and that the bank's other claims of grounds for the discharge were nonsensical. Congratulations to Stroupe and her attorneys James, Hoyer, Newcomer, Smiljanich & Yanchunis of Tampa, Florida. BB&T can appeal now to the U.S. Department of Labor's Administrative Review Board (ARB), but the reinstatement order is not stayed during that appeal.

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