Deas Files SEC Whistleblower Complaint Against Emory University

Dr. Dale Shelton Deas Jr., a cardiac surgeon and federal whistleblower, has filed a comprehensive whistleblower complaint with the U.S. Securities and Exchange Commission (SEC). In the complaint, Deas alleges that a $4.2 billion municipal bond securities fraud scheme tied to Emory University and Emory Healthcare has occurred, and may be ongoing.

Deas entered Alabama’s Republican U.S. Senate race in January to bring these claims before the American public and fight corruption affecting patients and healthcare workers in America’s hospitals.

The SEC filing outlines thirteen series of Emory-related municipal bonds, including the $862.7 million Series 2025A bonds issued on June 12, 2025, that were allegedly sold without disclosure of material risks, pending federal investigations, and significant malpractice liabilities. According to Dr. Deas, these omissions place the entire $4.2 billion municipal bond portfolio at cross-default risk and constitute systematic securities fraud.

As a cardiac surgery trainee at Emory, Dr. Deas allegedly documented patterns of Medicare fraud and patient harm, including the deliberate prolongation of heart and lung transplant patients’ ICU stays beyond medical necessity to surpass the 51-day outlier payment threshold, generating bonus Medicare reimbursement while inflating transplant survival statistics. He asserts that denial of appropriate palliative care for ventilated, disabled patients violated Medicare Hospital Conditions of Participation and Transplant Center Conditions of Participation.

The SEC submission also describes the suppression of malpractice litigation and evidence, including witness tampering and document destruction, to protect Emory’s credit ratings and access to the municipal bond market. Dr. Deas notes that major malpractice cases were delayed until after bond offerings, including Brown vs. Emory Healthcare, which resulted in a $38.6 million verdict for the mother of Trevon Falson, as well as Willson vs. Chen, where he alleges attorney abandonment contributed to concealment of institutional liability.

Dr. Deas further alleges a network of political protection involving senior Emory executives, offshore captive insurer Clifton Casualty in the Cayman Islands, and federal officeholders whose support helped shield Emory from regulatory scrutiny. He contends that Emory’s leadership knowingly prioritized bond ratings and institutional liquidity over patient safety, honest disclosure, and the rights of families harmed by malpractice.

“This SEC filing is not about politics, it’s about the rule of law,” said Dr. Deas. “When hospitals hide preventable deaths and retaliate against witnesses to protect $4.2 billion in bonds, that is not healthcare, that is a securities fraud enterprise. I am running for the United States Senate because the public deserves the truth, and investors deserve transparency.”

Deas is on the ballot in the Republican Senate primary scheduled for May 19, 2026.

 For more information on Dr. Dale Deas, Jr., follow his campaign on Facebook or visit his website, https://americantruthdefense.is.