06:09 AM EDT, 09/19/2025 (MT Newswires) -- Deutsche Bank ( DB ) Chief Executive Christian Sewing is set to face a multimillion-pound lawsuit filed by five former employees, the Financial Times reported Friday, citing unnamed people familiar with the matter.

The lawsuit, which is reportedly expected to name both Sewing and the bank, stems from a flawed internal audit under his leadership that contributed to the 2019 criminal convictions of the ex-employees, which were later overturned in 2022.

The former bankers were convicted of false accounting and market manipulation in relation to Italy's Monte dei Paschi di Siena, though they did not serve jail time, the news outlet reported.

The claimants argue that Sewing's oversight led to the flawed audit, damaging their careers, the FT reported.

The legal action is expected to be filed in the coming weeks, with final details still subject to change, the media outlet quoted the sources as saying.

Deutsche Bank ( DB ) did not immediately respond to MT Newswires' request for comment.

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