[Post updated May 2018] A recent article published by the Pharmaceutical Integrity Coalition highlighted the terrible tragedy that occurred several years ago when contaminated heparin was imported into the United States. Manufactured by Baxter International, a U.S. company, the adulterated drug was linked to over 100 deaths and hundreds of serious injuries. One woman was […]
Texas Doc Gets Long Prison Term for Medicare Fraud
A federal district court judge in Dallas sentenced a 63-year-old physician to over 11 years in prison following his conviction for Medicare fraud. When released, Dr. Tariq Mahmood must also repay the taxpayer funded program for the monies he took. In addition to being a physician, Mahmood was the owner of several Texas hospitals including Cozby […]
Suitability Violation Results in $48 Million Award
A well-known investment advisor has been ordered to pay a couple $48.5 million after making “grossly unsuitable” investment recommendations. The firm, Family Endowment Partners, is based in Boston, Massachusetts. A single arbitrator from the American Arbitration Association ordered the company to pay approximately $13.5 million in actual damages and then tripled the award based on […]
Whistleblower Gives Money to Charity
We have always said that most whistleblowers come forward because it is simply the right thing to do. Yes, the availability of monetary awards helps and those awards become essential if the whistleblower faces retaliation. Studies show that most whistleblowers try to fix problems internally before going outside the organization and filing a False Claims […]
Prescription Drugs – Everyday Routine or Russian Roulette?
Tens of millions of Americans take prescription drugs everyday. Whether taking a blood pressure pill or getting an insulin injection, its just an everyday routine. But what if the pills or injectables are contaminated? Last December, federal agents arrested 14 executives and workers in a tainted drug case blamed for as many as 64 patient […]
Please Release Me, Let Me Go – Medicaid Fraud Post
Elvis Presley made the lyrics “Please release me, let me go” famous in the 1960’s. Some New York nursing home residents may have been singing that song much more recently. The New York State Attorney General’s Medicaid Fraud Unit last week says it stopped a nursing home chain that was holding patients against their will. […]
Belvedere Management Ponzi Scheme? The Plot Thickens
London cops raiding a Belvedere Management related entity last month and arresting 13 employees… The government of Mauritius freezing two other Belvedere funds, Four Elements PCC and Lancelot Global… Brighton SPC fund reportedly suspending operations… A prominent industry publication labeling flagship fund, Kijani Commodity, a Ponzi scheme. Something is going on at Belvedere Management and […]
The Rise of “Nonbanks” – Whistleblower Post
We have not been kind to the “too big to fail” banks and large mortgage companies in this blog. Companies like Allied Home Mortgage, HSBC and Bank of America are frequent targets of our anger and frustration. Yet when one of our whistleblower clients helped tag Bank of America for $16.65 billion last year, the […]
More Storm Clouds in the Banking World
Depending on which agency does the talking, banks are either in great shape or quite vulnerable. The financial services industry likes to parade the results of the Federal Reserve’s on-going stress tests. By that measure, America’s eight largest banks are truly “too big to fail.” Citigroup, for example, clocked in with an impressive 8.2% ratio. […]
Pols Loot Fannie Mae, Freddie Mac – New Crash Looms
The news from Wall Street has been positive for years… the stock market is at record highs, lower oil prices mean Americans have more spending money, the job market has slowly expanded (at least the politicians say so) and housing prices are up. With respect to the housing market, one would think America learned a […]
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