The Justice Department released their 2014 whistleblower award figures yesterday. Whistleblowers under the federal False Claims Act took home $435 million in award money this year. (The government’s fiscal year ended on September 30th). These figures don’t include the millions paid by the IRS, SEC and under the FIRREA statute. All four programs pay whistleblowers […]
Regulators Crack Down on Mortgage Servicers
Mortgage Professional America reports that regulators are focusing their attention on mortgage servicers. Concerns range from liquidity issues to improper loan modification procedures to complaints about unauthorized and excessive fees. MPA reports that the Federal Housing Finance Agency plans to roll out new risk management guidelines after Thanksgiving. They fear that some servicers are showing […]
Thank You Whistleblowers
The results are in and they are fantastic. The U.S. Department of Justice collected $24,000,000,000.00 in FY 2014. (The government’s fiscal year ended on September 30th.) While some of that money represents criminal fines and forfeitures, much of it was generated by whistleblowers and the federal False Claims Act, a Civil War era law that […]
There is a New Sheriff In Town – YOU (Whistleblowers Post)
Healthcare fraud has become so rampant that earlier this year the Centers for Medicare and Medicaid Services (“CMS”) announced that it had to impose a moratorium on new healthcare providers in certain markets. It was the second time regulators became so concerned with fraud that they had to resort to such a drastic remedy. A […]
Bank Fraud Post – Big Banks Too Big To Serve?
Earlier this week, regulators fined big banks, again. This time $4.3 billion against 6 big banks for trying to manipulate the $5 trillion daily currency exchange market known as forex. The banks fined in this latest round of enforcement actions are RBS (The Royal Bank of Scotland), UBS, HSBC, JPMorgan Chase, Citibank and our perennial […]
NJ Supreme Court and Whistleblower Retaliation
Whistleblowers are heroes. They stand up to fight corruption and fraud and to do what is right. Often it is a lonely battle; the federal False Claims Act and most state whistleblowernlaws “seal” complaints during investigation meaning the whistleblower is precluded from talking about the case. That doesn’t stop a few bad employers from engaging […]
Criminal Charges and Whistleblowers
Recently we received a call from a potential whistleblower wondering if she could file a false claims act case even though her employer managed to convince a local prosecutor to bring criminal charges against her. Unfortunately, we periodically hear stories like this. In almost every case, a “dirty” employer uses the criminal courts as a […]
If the Day Ends in "Y", It’s a Bad Day for OCWEN
We have had much to say about Ocwen these days. Not a week goes by without a new complaint or investigation. Today we learned the company was hit last week with a multimillion-dollar class action lawsuit. The suit accuses the loan servicing giant of deceiving homeowners, who are behind on their mortgage payments, into paying […]
Whistleblower Awards Go International!
Can a foreign national obtain a whistleblower award from the United States for conduct that occurred entirely overseas? Think the answer is “no”? Keep reading! Technically, there is nothing in any of the major whistleblower compensation laws that limits awards to U.S. citizens. Until recently, however, the recipients have all been Americans or dual nationals. […]
Newest Stockbroker Fraud Tactic – Happiness Letters
Here is one even we have not seen in a long time, “Happiness Letters.” According to the Wall Street Journal, however, some brokerage firms still send out these letters when they become concerned that your broker is doing something wrong. If that sounds confusing, just read one of the letters! Brokerage firms are responsible for […]
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