One of the most famous modern day whistleblower lawsuits is that brought against Lance Armstrong by his former teammate, Floyd Landis. Using a Civil War era statute, Landis sued Armstrong on behalf of the United States Postal Service. After admitting to using performance enhancing drugs, Armstrong was the subject of multiple legal actions. In addition […]
Stockbroker Fraud – Good & Bad News
Stockbrokers and investment advisers manage trillions of dollars of money. While some of that is for institutional investors, much of it belongs to ordinary investors who rely on their advisors for honest advice and quality pricing. The SEC regulates most investment advisers but in 2013, an amendment to Dodd Frank shifted oversight of smaller and […]
More Bad News for Brighton SPC Fund Investors
Brighton SPC is part of a constellation of businesses and funds affiliated with Belvedere Management. We first wrote about Belvedere in March when Offshore Alert claimed the company was one of the most massive Ponzi schemes in history. Not one to mince words, Offshore Alert’s principal, David Marchant, is a brilliant journalist and is seldom […]
Bearer Bonds – Great IRS Whistleblower Opportunities
Bearer bonds are securities that are not registered and have very little documentation. Whoever holds the physical bond is deemed the owner. Because they are frequently used by money launderers and tax evaders, they present great opportunity for an IRS whistleblower. Bearer bonds were quite popular until the early 1980’s when they were outlawed by […]
Medicaid Fraud – Score One for the “Little” Guys
Because Medicare is a national program, damages in Medicare fraud cases are often measured in the hundreds of millions of dollars. Medicaid fraud, which relies on state funds and is a safety net for low income residents, sees a lot of action by the states although the awards paid to whistleblowers are often lower. More […]
More Bad News for Holders of Oil & Gas Bonds
We have spent much time blogging about the oil and gas industry. It is financed in large part by junk quality debt – what we call shale bonds. In recent years, exploration and production companies in the energy industry have raised hundreds of billions of dollars in working capital to pursue new production. Much of […]
Fake Pharma India: 10,500 Facilities, 19 Inspectors
Earlier today I taped a segment on the pharmaceutical industry for the Ask Dr. Nandi show. An Emmy winning television host and medical doctor, Dr. Partha Nandi is an internationally recognized medical professional. My segment on today’s show was directed at the growing problem of counterfeit, adulterated and subpotent drugs – fake pharma- entering the […]
Missouri Whistleblower Doctor Awarded $825,000
Since 2009, federal prosecutors have recovered over $16 billion in Medicare fraud cases. Although the recovery certainly sounds impressive, the FBI estimates we lose tens of billions of dollars annually because of healthcare fraud. Because of whistleblower cases such as that filed by Dr. Jean Moore, the government is starting to make progress in its […]
Hospitals to Pay $69 Million in Medicare Fraud Suit
Many people think that only “for profit” hospitals get in trouble for Medicare fraud. Not so! A state hospital district in Broward County has agreed to pay the federal government $69 million to settle a whistleblower suit filed under the False Claims Act. North Broward Hospital District is an agency of the state. It operates […]
Puerto Rico Bonds – One Step Closer to Armageddon
For those that have studied the Bible, the Book of Revelations says Armageddon is the site where the world will end. In generic terms, the word is used to describe the end of the world. For holders of Puerto Rico bonds, their world moved one step closer to Armageddon this weekend when Assured Guaranty refused […]
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