Belgian bank sues whistleblower

A whistleblower is being sued for tens of millions of pounds by Belgian banking giant KBC after a case was brought against the group by a millionaire British investor last month.

KBC, which recently received billions of euros in bailout funds from the Belgian government, is suing the whistleblower, Ces Quirijins, following the serving of a writ by Raman Dhir, a UK property tycoon, last month.

Mr Dhir alleges that KBC, through its subsidiary, Theodoor Gilissen, took part in churning, account fabrication and cover-up, while also closing out derivative positions in gold that have since rocketed in value.

Mr Quirijins, who worked at KBC's Dutch subsidiary, has filed a counter claim against the bank, alleging intimidation. "Based on my salary, it would take me around 333 years to pay KBC the money it is claiming," he said. "It's nonsense. What I've realised through this whole process is that whistleblowers have very little protection."

A spokesman for KBC was unable to confirm a writ had been served.