Odd Lots: Why This Bank Whistleblower Walked Away From More Than $8 Million

Could you imagine doing that?

A whistle sits around the neck of a gamekeeper.

Photographer: Matthew Lloyd
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Every week, hosts Joe Weisenthal and Tracy Alloway take you on a not-so-random walk through hot topics in markets, finance, and economics.

Could you walk away from a reward of more than $8 million?

The guest on our latest episode of the Odd Lots podcast did just that.

Eric Ben-Artzi was a risk officer at Deutsche Bank AG who concluded that his bank was mismarking a massive derivatives portfolio. When he couldn't get his colleagues to reprice the derivatives he called a hotline and blew the whistle, ultimately leading to a $55 million fine for Deutsche Bank and a huge reward for Ben-Artzi from the U.S. Securities and Exchange Commission — a reward that Ben-Artzi chose not to take.

In this episode he explains what he saw that was wrong and why he ultimately didn’t take the money.


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