A former employee of a U.S. government contractor in Afghanistan pleaded guilty today to accepting illegal kickbacks from an Afghan subcontractor in return for his assistance in obtaining subcontracts on U.S. government contracts.
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A former Erie cardiologist who sued his former colleagues and UPMC Hamot will receive $6 million as part of the $20.75 million settlement that Hamot reached to end the cardiologist's federal whistleblower case.
9th Circuit Court of Appeals has upheld the 2015 jury verdict awarding $1.25 million to a railroad whistleblower who claimed he was fired after reporting safety concerns.
The Securities and Exchange Commission today announced securities fraud charges against a U.K.-based broker-dealer and its investment manager in connection with manipulative trading in the securities of HD View 360 Inc., a U.S.-based microcap issuer.
A Birmingham whistleblower who uncovered and reported an illegal kickback and false billing scheme that defrauded the Alabama Organ Center and taxpayers was awarded a judgment of $14.7 million after winning a jury trial last month.
Rannazzisi was a whistleblower in a "60 Minutes"-Washington Post investigation last year. The report detailed how the drug industry used its influence in Congress and in the executive branch to take away the DEA's most potent tool for stopping drug companies suspected of allowing drugs to wind up in the wrong hands.
BMH paid more than $1.6 million to resolve the allegations that the hospital violated the federal False Claims Act and the Vermont False Claims Act.
Almost a decade after the Ponzi scheme collapsed, trustees are still returning money to the victims. When bankruptcy trustees were appointed over a hectic weekend late in 2008, there seemed no end to the losses caused by the collapse of Bernie Madoff's Ponzi scheme. Cash in the bank was no more than $150m. But the losses have been less, and the assets available for compensation greater, than had been feared.
According to the Securities and Exchange Commission, Mr. Shapiro was actually operating the company as a $1.2 billion Ponzi scheme, in which storied estates like Owlwood were a lure to draw investors.
Curious about the world's most — and least — corrupt countries? On Wednesday Transparency International, a well-known NGO devoted to global anti-corruption, released its annual scorecard. TI's Corruption Perceptions Index shows the United States now sits in 16th place (of 180 territories), with a score of 75 out of 100. That's a small improvement on the 2016 index in which the United States was 18th with a score of 74.
Why are these record awards good news for consumers and investors? First, the fact that record whistleblower awards are coming out of Washington is strong confirmation that fears our federal regulatory agencies would cease to vigorously enforce the laws are overblown at least with respect to the financial markets.
JPMorgan Chase & Co.'s failure to properly inform some rich clients about conflicts of interest has resulted in a record $30 million whistleblower award by U.S. futures regulators.
On the same day that people linked to the three politically connected Gupta brothers were granted bail by a South African court after appearing on graft charges, one of the siblings, Ajay Gupta, was declared a fugitive.
The CBOE Volatility Index, known as the VIX, has been "suspect for at least seven years," says Bart Chilton, former CFTC commissioner. The whistleblower allegation of VIX manipulation "rings true to me," Chilton says.
Philanthropic heirs to OxyContin fortune have a 'moral duty to help make this right' says the widow of one of Purdue Pharma's founders The Sackler Drug Rehab Facility, unlike the prestigious Sackler art galleries of New York and London does not exist. Yet. If lawyers have their way, however, or public opinion pricks a few consciences, it may soon.
Consumers from Massachusetts today filed a class-action lawsuit against Nestle for allegedly regularly importing cocoa beans from suppliers in the Ivory Coast using the worst forms of child labor as recognized by the UN, including dangerous child labor and the slave labor of trafficked children, according to Hagens Berman.
The Business Times and The Straits Times reported on Feb 11 and Feb 12 respectively that Keppel Corp said it has not yet been served with the court papers relating to a new racketeering lawsuit brought against Keppel Offshore & Marine (Keppel O&M) by certain funds managed by EIG Global Energy Partners in the United States.
Dutch lender Rabobank's California subsidiary agreed Wednesday to forfeit $369 million after a long-running investigation concluded the unit was used to launder millions of dollars in Mexican drug money. The subsidiary, Rabobank National Assn., also pleaded guilty to one count of conspiracy to defraud the United States.
Whether they know it or not, investors should also be thanking Dodd-Frank whistleblowers for playing a central role in policing both traders and exchanges.
For all of the attention on US and international cases, Europe has been home to some of the world's most spectacular whistleblower revelations in recent years.
