Ex-EY whistleblower wins $10.8m in damages. Exposing Misconduct.

Ex-EY whistleblower wins $10.8m in damages

April 17, 2020

Accountancy firm EY has been ordered to pay $10.8m in damages to a whistleblower who claimed it covered up evidence of money laundering.

Auditor Amjad Rihan sued EY after being forced out of his job in 2014.

A year earlier, Mr Rihan led an audit that discovered Dubai’s biggest gold refiner Kaloti had paid out a total of $5.2bn (£4bn) in cash in 2012.

Mr Rihan argued it was evidence of money laundering – but EY didn’t report the activity to the authorities.

EY then helped to cover up a crime – the export to Kaloti in Dubai of gold bars that had been disguised as silver to avoid export limits on gold.

Read more here.
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