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The Wall Street Journal: Whistleblower in Deutsche Bank says he rejects $8 million award

Bloomberg

Pedestrians pass a Deutsche Bank AG bank branch.

A whistleblower who is in line to receive $8 million for exposing alleged securities law violations at Deutsche Bank AG said on Thursday that he is giving up his award because regulators only fined the company and didn’t go after the managers responsible for the misconduct.

“I will not join the looting of the very people I was hired to protect,” the whistleblower Eric Ben-Artzi said in an unusual op-ed in the Financial Times entitled “We must protect shareholders from executive wrongdoing.”

In May, the bank agreed to pay $55 million to settle U.S.

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