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Sarbox Whistle-Blower Ordered Reinstated

Washington Mutual Inc. has been ordered to reinstate a fired loan executive under the whistle-blower provisions of the Sarbanes-Oxley Act.

> > Three months after a bank executive Theresa Hagman, who had served as a vice president and national manager, began raising concerns that loans were being funded and underwritten without proper documentation or other safeguards, she was fired.
Washington Mutual was ordered to rehire Hagman and to pay back wages, attorneys fees, and other compensation totaling more than $167,000. The company has 30 days in which to appeal.
Source: CFO


Published:2005-05-18
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