By EVAN BELANGER
A former bank executive who alleged one of the world’s largest financial institutions was hiding billions of dollars in losses, setting off a major fraud investigation, will speak at Auburn University.
Eric Ben-Artzi, a former quantitative risk analyst for Deutsche Bank, became a whistleblower in 2011 when he reported to the U.S. Securities and Exchange Commission that his employer was not accurately reporting the value of its credit derivatives portfolio.
According Ben-Artzi, the global banking and financial services company, was hiding up to $12 billion in losses from its investors. The complaint led the SEC to launch a major investigation into the bank.
It also contributed to a series of investigative news stories supporting Ben-Artzi’s allegations and alleging German regulators had done nothing to correct fraudulent activities at the bank, despite being briefed years earlier.
Deutsche Bank fired Ben-Artzi just three days after he filed the complaint. He is currently suing his former employer for wrongful termination.
Ben-Artzi will speak at Auburn on Jan. 27 in an event sponsored by the Government Accountability Project’s Whistleblower Tour and the Raymond J. Harbert College of Business, the university announced today.
The free event, set for 7 p.m. in room 113A of Auburn’s Lowder Hall, is open to the public. The GAP Tour is a campaign intended to educate the public about the phenomenon and practice of whistleblowing.
“Hearing from individuals who display integrity allows our students to realize that making the decision to stand up for what is right is the only way to ensure their beliefs match their actions,” said Sarah Stanwick, associate professor in Auburn’s School of Accountancy.