Whistleblower News: 401k Mutual Fund Whistleblowers, Sotheby's

SEC Whistleblowers Say 401ks And Pensions Are Cheated Out Of Billions In Mutual Fund Payments


Three SEC whistleblowers say financial intermediaries serving as custodians, recordkeepers and trustees to 401ks and pensions systemically conceal and pocket billions in mutual fund “omnibus” payments which rightfully belong to retirement plans.

Over the period from May 2018 through October 2020, three separate whistleblowers filed complaints with the Securities and Exchange Commission alleging that major financial intermediaries which provide custodial, recordkeeping, and trustee services to 401ks and pensions are short-changing their retirement plan clients. read more »

New York sues Sotheby's for helping important client escape sales taxes on artwork


Sotheby’s was sued on Friday by New York’s attorney general, who accused the auction house of defrauding the state by helping an important client avoid millions of dollars of sales taxes on art he purchased.

The lawsuit was filed in a New York state court in Manhattan, and seeks damages plus civil penalties for violations of the state’s False Claims Actread more »