The whistleblower who revealed irregularities at Deutsche Bank during the financial crisis refused the bounty offered by the US stock Constable (SEC) to protest against the fact that the leaders of the group have not been punished.
“I just heard the Securities and Exchange Commission (SEC) that I will receive half the reward whistleblowers 16.5 million. But I refuse to take my share,” said Eric Ben-Artzi in a letter published in the Financial Times on Friday.
“the leaders have retired with bonuses of several million dollars based on the deformation of the bank’s balance sheet. It is therefore particularly disappointing in 2015, after lengthy investigation which contributed several whistleblowers, the SEC has fined the shareholders of Deutsche bank rather than responsible leaders, “said the former analyst of the bank, which demand that its share of the premium to be paid to Deutsche Bank and its shareholders he considers “the first victims” of this case.
2.5 billion fine in case of Libor
the first German bank was sentenced in May 2015 a financial penalty of $ 55 million by the SEC for minimizing potential losses related to complex financial products at the height of the crisis of 2008. the SEC did however not question individual leaders of the group.
in 2010 and 2011, Eric Ben-Artzi had informed internal accounting irregularities bank, before turning to US regulators, which led to the opening of the SEC investigation.
Deutsche bank, whose name is mentioned in over 6,000 litigation, also has fined 2.5 billion for manipulation of Libor interbank rate in the United States and settled a dispute with the regulator the financial services New York (DFS) and the Federal Reserve (Fed) who accused him of violations of US embargoes against Syria and Iran.
the bank undergoing restructuring, plans to close by 2020 some 200 subsidiaries in Germany and to remove nearly 9,000 positions globally.
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