WHISTLEBLOWER: Richard Bowen, the American banker who blew the whistle at Citigroup, recalls his central role and talks about financial corruption. Bowen sees a severe financial crisis ahead.

Richard Bowen is the Citigroup whistleblower who repeatedly warned Citi executive management about risky business practices and potential losses related to mortgage lending, according to the Wall Street Journal, CBS Evening News, and 60 Minutes, As a business chief underwriter for Citigroup during the housing bubble financial crisis meltdown, he says he saw fraud firsthand inside the organization. According to Richard Bowen, he watched with disbelief at the way the company certified poor mortgages as quality mortgages and sold them to Fannie Mae, Freddie Mac and other investors. For two years he said he repeatedly warned executive management and the board of directors. His warnings, he said, were ignored, despite the fact that withholding such information from shareholders and investors violated the Sarbanes-Oxley act. Citigroup eventually stripped him of all responsibilities, placed him on administrative leave and told him his presence was no longer required at the bank. Richard subsequently testified before the Securities and Exchange Commission and gave them 1,000 pages of evidence of fraudulent activities, with the bank bailouts occurring three months later. In 2010, Richard was a key witness in the mortgage mishaps as he gave nationally televised testimony before the Financial Crisis Inquiry Commission. He says he was shocked to see the orchestrated efforts to hide key parts of his testimony from the American public. Source: richardmbowen.com --- Support this podcast: https://podcasters.spotify.com/pod/show/john-aidan-byrne0/support