FRANKFURT Dec 12 Deutsche Bank's
risk committee has found no need for a fresh investigation of
allegations the lender failed to recognise billions of euros in
unrealised losses during the financial crisis, two sources said.
Deutsche Bank declined to comment.
Last week, law firm Labaton Sucharow LLP said Eric
Ben-Artzi, a former quantitative risk analyst at Deutsche Bank,
used a whistleblower programme to tell the U.S. Securities and
Exchange Commission the bank failed to report the value of its
credit derivatives portfolio correctly from 2007-10.
The Financial Times reported at the time that the unrealised
losses totalled up to $12 billion.
Deutsche Bank has rejected the claims as unfounded. One of
the sources said on Wednesday the German lender's risk committee
discussed the allegations in recent days.
In June 2011, Reuters reported on a Sarbanes-Oxley
whistleblower action filed against Deutsche Bank in May 2010
alleging assets in a derivatives portfolio may have been
improperly valued to hide trading losses.