What You Need To Know

• Sabya Sinha alleges that Schwab fired him after he reported the violations.
• Sinha complained that portfolio managers routinely used their personal devices for business communications.
• The SEC subsequently fined Schwab $10 million for the off-channel violations that Sinha had reported, the suit contends.

A former Charles Schwab Investment Management portfolio manager has filed a whistleblower retaliation lawsuit, alleging that Schwab terminated him after he reported multiple violations — including off-channel communications — to company leadership and sought to contact the Securities and Exchange Commission.

According to the suit, filed Tuesday in the U.S. District Court for the District of Colorado, Sabya Sinha alleges that Schwab fired him in June 2023 after he reported the violations.

The SEC subsequently fined Schwab $10 million in January 2025 for the off-channel violations the plaintiff had reported, the complaint contends. The suit seeks back pay, compensatory damages and attorney's fees.

From August 2015 to June 2023, Sinha worked remotely for Schwab from his residence in Colorado, the complaint states. Upon his termination, Sinha filed an Occupational Safety and Health Administration complaint and then filed a complaint/appeal with the Labor Department's Office of Administrative Law Judges.

Sinha began working for Schwab in August 2015, "and received positive reviews until he began complaining of potential SEC violations in 2022," the...

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