The totally dodgy backstory of the bank that just refinanced Trump Tower.
The whistleblower, Matt Erhart, was an internal auditor for the firm. And he discovered what he believed to be a raft of wrongdoing by the company and its CEO. According to his federalErhart sent two whistleblower tips to the SEC from his work computer, one alleging the company made a false response to an SEC subpoena — denying the existence of records for a customer the bank, in fact, had a detailed file on — and another “regarding a suspicious loan customer.
Axos did not respond to questions about the lawsuit, but has previously waved off Erhart’s complaints asinsisting that all of Garrabrants’ deposits were “authorized and lawful.” The company’s countersuit describes Erhart as an “internal auditor gone rogue,” who vastly overstepped his job duties. The litigation has dragged on for years, but a settlement is now reportedly pending in which Axos willAxos’ dodgy business practices have allegedly continued in recent years.
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