Actually, That Information Wasn’t So Much Worthless As Worth $200 Million

You might think, given the hideous car crash into a towering tire fire in the middle of the universe’s largest flaming dumpster that is Deutsche Bank, regulators wouldn’t need much help uncovering and unraveling whichever disaster they happen to have stumbled upon this time. And, indeed, the Commodity Futures Trading Commission thought just that of the German’s share of Liborgate, so much so that it laughed at the presumption of one so-called whistleblower asking for his or her share of the $800 million it collected in the matter.

It seems, however, that they were wrong. Spectacularly wrong, as it turns out. One might even say wrong on a Deutsche Bank-esque scale, in that the whole affair wound up nearly bankrupting it.

A U.S. regulator on Thursday doled out a record reward of nearly $200 million to a whistleblower who provided information for a case involving the rigging of crucial financial benchmarks, according to the agency and a law firm involved in the award…. The amount, the largest ever for any government whistleblower program, was “mind-blowing,” Erika Kelton, an attorney with Phillips & Cohen LLP who has represented several whistleblowers in the past, said in a statement.

U.S. regulator awards whistleblower $200 million record payout over benchmark rigging case [CNBC]
Deutsche Bank Whistleblower Gets $200 Million Bounty for Tip on Libor Misconduct [WSJ]

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