The fraud recovery and lender liability lawyers at Mahany Law are investigating claims that Freedom Mortgage does not properly credit payments made by homeowners. We have been told by one homeowner that Freedom reported her mortgage payments as being late when in fact they were made timely. This caused the homeowner’s near perfect credit score […]
Sleeping with the Enemy? Qui Tam Whistleblower Post
A recent article in the Corporate Crime Reporter (CCR) suggested that qui tam lawsuits against military contractors are not often successful because the Defense Department is too “cozy” with the contractors. Before we address this issue, let’s first set the stage by discussing qui tam actions and the huge whistleblower awards available in those cases. […]
URGENT NOTICE for United Development Funding IV REIT
[Post Updated July 2019] Texas REIT company United Development Funding (UDF) has suffered much turmoil recently. This week the company announced it had received a Wells notice from the SEC. Named after the former chair of an SEC committee, a Wells notice is a notification letter sent by the agency to a person or securities […]
SEC Fines Ex- LPL Broker for Churning
Churning occurs when a stockbroker does excessive trading in a client’s account. The trades are designed to maximize commissions for the broker instead of profits for the customer. Churning is illegal and prohibited by both the SEC and the Financial Industry Regulatory Authority (FINRA). Earlier this week the SEC fined former LPL broker Paul Lebel […]
Contractor Seeks to “Assassinate” Gov’t Official – FCA Post
A client just shared with me a Washington Post article from last year. Although a bit dated, it’s a great article with many lessons for today. It shows just how nasty and greedy some companies can become. If you think whistleblower retaliation is bad, wait to you hear the allegations in this story. This post […]
SEC Fines Anheuser Busch for Trying to Impede FCPA Whistleblower
Bribery of foreign officials is against the law in the United States. So are attempts to silence or hinder whistleblowers. Brewer giant Anheuser Busch InBev (InBev) managed to do both and is now paying the price. The Foreign Corrupt Practices Act (FCPA) prohibits companies from bribing foreign officials with the intent to influence those officials […]
Kansas Federal Reserve Chief Focused on Bank Cybersecurity
With all the doom and gloom attention focused on the election and economy, one senior official is sounding a different alarm. Cybersecurity and the growing threat of cyberhacking faced by banks. Kansas City Fed president Esther George told an audience of bankers in Chicago that cybersecurity is a growing concern for banks, especially as the […]
Medicare Fraud Agency Turns 40… A Look Back
40 years ago today (October 15, 1976), then U.S. President Gerald Ford signed legislation creating the Office of the Inspector General (OIG) in the Department of Health, Education and Welfare. From its humble beginnings, the agency has grown rapidly (along with federal healthcare spending). Today the agency boasts over 1600 employees and claims to have […]
WANTED: Wells Fargo & Bank Whistleblowers
Whistleblowers from Wells Fargo are coming out of the woodwork. Finally someone is listening. For years, some whistleblowers have been trying to tell the world about all the financial mismanagement at America’s third largest bank ($1.8 trillion in assets, 265,000 employees). We, of course, have always listened but getting folks to come forward is difficult. […]
Medicaid Fraud Doc Accused of Harming Tots
What kid likes going to the dentist? For most parents, dragging kids to the dentist is part of parenting. Kids don’t like to go but having clean and healthy teeth is a necessity. We trust pediatric dentists to take care of our kids. Today, however, one Florida dentist is under arrest and being called a […]
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