Whistleblower News: False Claims Act Drug-Billing Fraud, SEC Charges09/12/2018
SEC Charges Digital Asset Hedge Fund Manager With Misrepresentations and Registration Failures
The Securities and Exchange Commission today announced its first-ever enforcement action finding an investment company registration violation by a hedge fund manager based on its investments in digital assets.
The SEC entered an order finding that Crypto Asset Management LP (CAM) offered a fund that operated as an unregistered investment company while falsely marketing it as the “first regulated crypto asset fund in the United States.” According to the SEC’s order, CAM, a California-based hedge fund manager, and its sole principal Timothy Enneking raised more than $3.6 million over a four-month period in late 2017 while falsely claiming that the fund was regulated by the SEC and had filed a registration statement with the agency. read more »
Google’s location privacy practices are under investigation in Arizona
Google's alleged practice of recording location data about Android device owners even when they believe they have opted out of such tracking has sparked an investigation in Arizona, where the state's attorney general could potentially levy a hefty fine against the search giant.
The probe, initiated by Republican Attorney General Mark Brnovich and confirmed by a person familiar with his thinking but not authorized to speak on the record, could put pressure on other states and the federal government to follow suit, consumer advocates say — although Google previously insisted it did not deceive consumers about the way it collects and taps data on their whereabouts. read more »
CT sues over $11M drug-billing fraud
Connecticut is suing a Florida compounding pharmacy and at least 13 current or former state workers who participated in a pharmacy-benefit billing kickback scheme that state prosecutors claim cost taxpayers some $11 million in drug overcharges.
Attorney General George P. Jepsen announced Tuesday his office is suing the co-defendants under the state's False Claims Act for three times the $10.9 million in losses it claims to have suffered from the fraud. read more »