A former Commonwealth Bank of Australia (CBA) senior sales executive has claimed reports suggesting he was involved in the collapse of advisory firm, Storm Financial, are false.
Graham Lynham, a manager with CBA's mobile home lending division, was dismissed from the bank's Townsville office last week following an internal investigation.
The internal investigation that led to his dismissal was not linked to Storm, Lynham told InvestorDaily.
The investigation related to six or seven charges in relation to the purchase of home loans, he said.
"There was no implication of Storm whatsoever," Lynham said.
"They were internal charges relating predominately to assisting first home buyers purchase or build their first home. They felt that I didn't follow the bank's procedures in relation to the loan files."
In a statement released late last week, Lynham acknowledged that he did work in the same office as Storm staff, though did not work directly with Storm clients.
"The Storm team were always given priority for experienced staff because of the relationship between the CBA and Storm. The results of the Storm staff were well recognised each Friday afternoon in team meetings," his statement said.
While CBA would not comment further on Lynham's investigation a CBA spokesperson did confirm there was no link to Storm.
"We can confirm that Lynham's dismissal from CBA is not related to Storm, however, we can't provide specific details," the spokesperson said.
Storm Financial closed its doors on 15 January this year.
