Posted By: Judy Smith

NEW YORK (Reuters) - A former long-time employee of
Deutsche Bank AG (DBKGn.DE) accused of stealing more than $13
million from the company has been indicted on one count of bank
fraud, U.S. authorities said on Tuesday.
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John Quinn, 65, who worked as an assistant vice president
in a New Jersey office of Deutsche Bank, is currently free on

$3 million bond after he was arrested in connection to the
fraud in October. If convicted he faces up to 30 years in
prison.

U.S. Attorney Michael Garcia said in a statement that Quinn
set up a company call Quorum Investments.

"From about June 14, 2004, until September 29, 2006, Quinn
caused Deutsche Bank to wire transfer funds from its
operational accounts to Quorum's bank account, on 53 separate
occasions, totaling in excess of $13.4 million," Garcia said.

He accused Quinn, a New York resident who had worked for
the Germany-based bank for 21 years and planned to retire last
month, of using the money to buy, among other things, BMW cars
and expensive jewelry.

Quinn is due to be arraigned on Thursday.

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