Former Brookfield Asset Management fund manager Josh Raffaelli claims the firm—which manages about US$1 trillion in assets—fired him after he filed a whistleblower complaint with the U.S. Securities and Exchange Commission. He alleges the firm misled investors and bribed him to endorse business he claimed violated securities law. Brookfield denies any wrongdoing. (The New York Times)

Talking point: Part of the complaint hinges on investments in several companies owned by Elon Musk, with whom Raffaelli had close ties going back to before he began working at Brookfield in 2017. In the suit, he alleges Brookfield walked back some of its commitments to allocate hundreds of millions of dollars into funds Raffaelli managed, following steep, pandemic-related losses in the company’s real estate portfolio. He claims he was forced to reduce an investment in what The New York Times identified as Musk’s xAI company from US$25 million to US$5 million, causing investors to lose out on substantial gains (the estimated value of the company has more than tripled in the past year). Raffaelli also claims a majority Brookfield-owned fund called Pinegrove Capital—with which the asset manager planned to merge Raffaelli’s funds—inflated its assets under management in marketing material.