[Editor Note: Post updated May 2018]Record breaking fines and massive media attention over unreported foreign bank accounts has raised awareness about offshore reporting requirements and the need to file FBAR forms. An FBAR is a Report of Foreign Bank and Financial Accounts. FBAR forms are generally required when the aggregate amount of a taxpayer’s offshore […]
Buy American Act II – Jett Industries Revisited
Later this year we hope to see two False Claims Act lawsuits (whistleblower cases) unsealed by the federal courts. Both involve claims of contractors illegally passing off foreign made goods as U.S. made. Most whistleblower claims involve Medicare fraud or defense contractors. We don’t see many cases involving Buy America or Buy American Act violations […]
Huffington Post
In her confirmation hearing this week to become the next U.S. attorney general, Loretta Lynch said that “no individual is too big to jail” and “no one is above the law.”
But, at least in one recent case in which Lynch was a key player, this may not be accurate.
In 2012, the U.S….
Public Citizen
Background In December 2012, HSBC USA Inc. and HSBC Holdings plc. (HSBC) entered into a five-year deferred prosecution agreement with the U.S. Department of Justice. The bank agreed to pay nearly $2 billion in fines and restitution, enact reforms to prevent future legal violations and appoint a…
New Twist in Medicare Fraud – Arrest the Patients!
Medicare fraud is out of control. Taxpayers lose billions each year to a wide variety of Medicare fraud scams. Not only do these scams hurt taxpayers, some also endanger the lives of patients. A recent case in Philadelphia, however, suggests that sometimes patients are part of the problem. One type of Medicare fraud involves ambulance […]
Hospital Group Settles Medicare Fraud Kickback Case
Paying kickbacks to doctors in order to get patient referrals is considered Medicare fraud and illegal. It’s also bad for patients. Unfortunately, many hospitals continue to engage in elaborate patient kickback and referral schemes. The latest hospital to get caught is the South Shore Physician Hospital Organization. Based in Massachusetts the hospital group must now […]
"Banks Are Under Assault" – Bank Fraud Post
[Updated May 2019] JPMorgan Chase has almost $2.5 trillion in assets making it the largest bank in America. Last week after reporting dismal earnings, Chase CEO Jamie Dimon blamed regulators for the bank’s earnings woes and claimed “banks are under assault” by regulators. To us, it is like hearing a bank robber lash out at […]
Big Pharma Loses Battle to Derail False Claims Act
Big pharma and the medical establishment hate the False Claims Act. We don’t think that rank and file physicians oppose the Act, unfortunately it is the dishonest and greedy doctors who seem to get their way. The good news is that they have suffered an embarrassing defeat before the Washington State Legislature. Washington is one […]
"More Paper Than A Stationary Store" – Stockbroker Fraud
Today’s Wall Street Journal ran a cover story about margin debt and the dangers it poses for unsuspecting or unsophisticated investors. One of those unsuspecting investors, Edith Steirman, is a woman in her 80’s. According to the Journal, she allegedly “borrowed” $3,525 on margin from Merrill l Lynch in the 1980’s. Recently she received a […]
Whistleblower to Receive $23 Million in Office Depot Case
“Our actions speak louder than words. We are accountable: doing what we say we’re going to do efficiently and on time.” These words come directly from Office Depot’s vision statement, part of the company’s code of ethics. Last week, Office Depot agreed to pay $68,500,000.00 to settle charges that it defrauded California government customers. Evidently, […]
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