Guilty. Yesterday a Manhattan federal jury convicted New York Assembly Speaker Sheldon Silver of all counts on a wide ranging anti-corruption indictment. From kickbacks to money laundering, Silver had his hand in the cookie jar. In the end, he was caught and convicted. Early next year he will be sentenced and faces up to 130 […]
Court Greenlights "Usual and Customary" Medicare Fraud Case
Federal Medicare guidelines require that pharmacies and hospitals submit their “usual and customary” price for prescriptions billed to the federal Medicare program. Similar rules exist for drugs billed to Medicaid. The government wants to insure that it gets the best deal on prescription drugs. Since Medicare and Medicaid are taxpayer funded programs, the government wants […]
Eye Opening FBAR Survey Results – New IRS Wwistleblower Opportunities
The Association of Americans Resident Overseas – AARO – recently conducted a 4 month survey to see how Americans with offshore financial accounts were adapting to the mandatory electronic FBAR filing regimen. For decades, U.S. taxpayers with offshore accounts had to paper file FBAR reports each June. Now, FBARs must be filed electronically. The survey results suggest […]
Court Sanctions Two Whistleblowers $1.6 Million
When a whistleblower files a case under the federal False Claims Act, the case is filed under seal meaning it is secret. Obviously whistleblowers can discuss the case with their lawyers, prosecutors and federal law enforcement officials but that is pretty much it. Can you tell your spouse about the case? Probably but whistleblowers are […]
Haitian Relief Efforts Mean Whistleblower Opportunities
The effects of the 2010 magnitude 7.0 earthquake in Haiti were devastating. Tens of thousands of people killed. Over 100, 000 buildings destroyed. In the days and weeks after the quake, famine and disease. Over a million people living on the streets. The United States was there to help, pledging $3.6 billion in relief efforts. […]
IRS Whistleblower Program – Success or Flop?
The National Whistleblowers Center issued a press release yesterday extolling the virtues of the IRS’ Whistleblower Program. According to a just released GAO report, the IRS program has paid over 500 awards since 2011. Those awards exceed $315 million. On the same day, Accounting Today’s headline read, “Problems Widespread in IRS Whistleblower Program.” Their story […]
UBS Accused of Trust Fraud
UBS Financial Services is being sued for $4.5 million by the beneficiaries of a trust. The suit says that UBS breached its fiduciary duty to the beneficiaries by mismanaging the trust’s assets. The trust’s primary beneficiary, Sanchez Carmona, claims the brokerage firm mismanaged the trust in order to generate management fees and commissions for itself. […]
John Doe Summons Issued Regarding Sovereign Management
[Updated May 2019] The IRS is on the hunt again for unreported foreign bank accounts. Already quite adept at finding taxpayers with hidden or undisclosed accounts overseas, the IRS recently obtained permission from a federal judge to issue a John Doe summons to several companies. This time, the IRS will be seeking records of shipments […]
Oh the Arrogance! (Whistleblower Post)
Most of our fraud posts related to the finance industry have some direct tie to a whistleblower suit against a bank or some egregious fraud by a lender. This post is a bit different; it helps explain exactly why Wall Street keeps misbehaving. The same traits that helped build Wall Street and made the U.S. […]
The Devil’s Advocates
Brian Mahany interviewed by iHeart Radio host Dominic Salvia on The Devil’s Advocates show about his historic False Claims Act (Whistleblower) case against Bank of America and other cases Brian is pursuing with whistleblowers exposing fraud, corruption, and waste that damage the U.S….
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