Recently, the Los Angeles Times reported that five years prior to the collapse of Washington Mutual Bank serious problems were uncovered by federal bank examiners. “The lack of action, exacerbated by a turf battle between agencies, allowed the bank’s shoddy lending practices and risky bets on subprime mortgages to continue until just months before its failure,” reported the Los Angeles Times.
“Many employees were forced to coerce to the unlawful practices and shoddy lending with fear of termination if they did not engage in these practices,” states Shegerian who is representing three former Washington Mutual Bank employees in their whistleblower cases.
“WaMu pressured our good employees to sell their toxic loans to the public. Not only did these employees get retaliated against and pushed out when they refused to follow the illegal directives, their good names were totally soiled for having been employed by WaMu. Seemingly overnight, WaMu destroyed their professions,” Shegerian explains.
An experienced trial attorney, Shegerian has tried many jury trials to verdict in both state and federal court, always representing individuals that have suffered financial or emotional losses and have been wronged by employers, including major corporations. Shegerian has built a remarkable career on helping those who have been wronged in the workplace. He remains undefeated in federal jury trials and has won 14 seven figure verdicts representing employees.