Blog

6th Circuit finds whistleblower law shields ex-employees from retaliation REUTERS

Financial Crime Reporting Rules Extended To Cryptoasset Firms FORBES The UK’s financial regulator, the Financial Conduct Authority (FCA), has announced a shake-up of its anti-money laundering activities which will see firms dealing in cryptoassets obliged to file annual reports on their trading activities. read more »

Former Owners of Telemarketing Company Agree to Pay At Least $4 Million to Resolve False Claims Act Allegations DOJ

SEC Charges Unregistered Investment Adviser with Defrauding Investors in Decade-Long Scheme SEC

SEC Issues Over $5 Million to Joint Whistleblowers Located Abroad SEC

SAP Public Services, Inc. to Pay $2.2 Million to Settle False Claims Act Allegations DOJ

United Airlines to Pay $49 Million to Resolve Criminal Fraud Charges and Civil Claims DOJ United Airlines Inc. (United), the world’s third largest airline, has agreed to pay over $49 million to resolve criminal charges and civil claims relating to fraud on postal service contracts for transportation of international mail. read more »

Federal Contractor Agrees to Pay More Than $6 Million to Settle Overbilling Allegations DOJ

Explaining GameStop hearing terms: Payment for order flow AXIOS Payment for order flow, or PFOF, sits at or near the top of the list of people's complaints about market structure. read more » Explaining GameStop hearing terms: Short-selling AXIOS The reason that GameStop stock rose so sharply last month was, paradoxically, because so many people had bet that it was going down. read more »

GameStop bull 'Roaring Kitty,' MassMutual hit with securities lawsuit REUTERS The social media persona “Roaring Kitty” at the center of last month’s frenzied rally in shares of GameStop Corp violated securities laws and caused “huge losses” for investors, according to a class action lawsuit filed in federal court in Massachusetts. read more » Lawmakers facing off with GameStop saga’s key players AP NEWS

Robinhood CEO admits communications shortcomings, ahead of House testimony REUTERS Robinhood, the trading app popular with young investors, could have better explained why it restricted the buying of heavily shorted stocks caught up in the social media-fueled trading frenzy around GameStop Corp, said the company’s chief executive officer. read more » How billions in pandemic aid was swindled by con artists and crime syndicates NBC NEWS

This California bill could help more tech whistleblowers speak out FAST COMPANY

Clover Health shares dip as SEC looks into short-seller allegations REUTERS U.S. regulators are following up on a critical report about Clover Health Investments Corp by short-selling specialist Hindenburg Research and have told the insurance company to preserve any relevant documents. read more »

GameStop frenzy prompts Yellen to call meeting with SEC, Fed POLITICO Treasury Secretary Janet Yellen will meet with key financial regulatory agencies to scrutinize recent price surges in GameStop stock and other companies, the latest move by policymakers to respond to market maneuvers tied to a group of investors on Reddit. read more » How Rich Hospitals Profit From Patients in Car Crashes NY TIMES

SEC issues warning as GameStop short-selling war resumes REUTERS The U.S. Securities and Exchange Commission waded into the battle between small investors and Wall Street hedge funds on Friday, warning both brokerages and the pack of social media traders that it was closely monitoring potential wrongdoing.

Millions earmarked for public health emergencies were used to pay for unrelated projects, inspector general says WASHINGTON POST Federal officials repeatedly raided a fund earmarked for biomedical research in the years leading up to the covid-19 pandemic, spending millions of dollars on unrelated salaries, administrative expenses and even the cost of removing office furniture, according to the findings of an investigation into a whistleblower complaint shared with The Washington Post.

Attorney General Becerra Announces $40 Million Nationwide Settlement with Apria Healthcare STATE OF CALIFORNIA DEPARTMENT OF JUSTICE

Space Force delays deal to ‘further evaluate’ contractor found to have acted fraudulently WASHINGTON POST

Justice Department Recovers Over $2.2 Billion from False Claims Act Cases in Fiscal Year 2020 DOJ

Boeing to pay $25M to settle fraud case at drone unit Insitu that sparked whistleblower complaint SEATTLE TIMES Boeing’s drone subsidiary, Insitu, will pay $25 million to settle a federal lawsuit accusing it of fraudulently overcharging the government on no-bid military contracts by billing for new parts but using recycled ones.