Ben-Artzi sheds light on Deutsche Bank suicides

Deutsche Bank’ whistleblower Eric Ben-Artzi sheds new light on the nefarious bookkeeping within the bank and a possible motive for two allege suicides within the bank.

Ben-Artzi uncovered a tens of billions of dollar shortfall in how the German uber bank priced the derivatives sitting on the books just after the market crashed in 2009.

Deutsche Bank’s collateralized debt was worth dimes on the dollar, yet it priced them at full value.

Ben-Artzi worked in the risk assessment department at the bank. This department was headed by William Broeksmit who London authorities  allege committed suicide in 2013 at the height of the derivative and Libor illegal activity.

Broeksmit’s son, Val, does not believe his death was of his own doing. He says his father knew all that was going on and may have thought about becoming a possible whistleblower himself after taking a board position at the former Bankers Trust division of Deutsche Bank.

Ben-Artzi in his Op-Ed piece in the Financial Times spoke about the lenient fine of $55 million the bank paid for its wrongdoing and attributed it to the revolving door in the Legal Department at DB and the Securities and Exchange Commission.

Another of the allege DB suicide executives was Charles Gambino who was a Managing Director in the Legal/Compliance Department.

Gambino was a former SEC lawyer, who came to DB just as the obfuscation of the books was going full tilt.

Gambino also is known to advise Broeksmit early on about derivative pricing and how it played out in the brewing Libor scandal.

So while Ben-Artzi turned down half of the $15+ million whistleblower payment from the SEC, he may have shed more light on the nefarious activities at the bank in the post Great Recession period than anyone will know.




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