Unveiling The Truth: Susan Smith – The Notorious Informant

Susan Smith – The Notorious Informant: An Unveiling of the Truth

In 2013, the US Department of Justice was awarded a $16.65 billion deal from Bank of America for their role in the 2008 financial crisis. However, what many people fail to understand is how the DOJ was able to get such a large settlement in the first place. The answer is simple: Susan Smith.

Smith, a former Bank of America employee turned informant, played a pivotal role in blowing the whistle on the institution’s illegal activities. Her information and testimony were instrumental in securing the settlement and bringing justice to those affected by the financial debacle.

But who is Susan Smith, and why did she decide to become an informant?

Smith grew up in a small town in Kentucky and, after getting a degree in finance, landed a job at Bank of America. As she worked her way up the ranks, she started noticing inconsistencies in the bank’s practices. She became increasingly uncomfortable with what she was seeing and eventually decided to take action.

In 2007, Smith reported her concerns to her supervisor and even went as far as to call the bank’s ethics line. But when nothing was done, she knew she needed to take stronger measures. Smith contacted the SEC, the FBI, and the Department of Labor, all of whom were investigating the bank’s activities.

Through her cooperation, the government was able to uncover Bank of America’s fraudulent practices. The bank was accused of selling toxic loans to investors, misleading them about the risks, and disguising the true nature of these assets. The DOJ stated that “the bank and its predecessors defrauded investors into believing the loans backing those securities were safer than they were.”

Thanks to Smith’s bravery, Bank of America was held accountable for its actions, and countless individuals and businesses affected by the financial crisis received some measure of justice. But Smith did not escape unscathed; she was ostracized by her colleagues, suffered from depression, and ended up losing her job as a result of her whistleblowing.

Susan Smith is a true hero and demonstrates the importance of having individuals who are willing to speak out against wrongdoing. Her story is a reminder of the necessity to hold powerful entities accountable and, in the process, provide hope for a more equitable future.