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.
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As Fiat Chrysler now braces for a potentially massive fine from the government and a recall over alleged emissions cheating on its V6 diesel engines in recent Jeep Grand Cherokees and Ram Trucks, the emails reveal what a hard time the automaker had in coming to grips with the mess Volkswagen created.
Harley-Davidson is recalling several hundred thousand motorcycles because the brakes might fail.
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.
Volkswagen paid huge government penalties in the U.S., but virtually nothing in Europe. Two things now seem clear: Some very senior officials knew of the wrongdoing — and they're not likely to face meaningful prison time.
Honest investors in public markets which one way or another refers to most Americans expect the government to make sure traders and the very exchanges on which they trade are not breaking the rules to rip them off. 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.
German police on Tuesday searched the headquarters of the high-end automobile manufacturer Audi amid an ongoing investigation into the alleged manipulation of pollutant emission levels in diesel vehicles by the Volkswagen group, which owns the brand.
Digital currencies such as bitcoin were in the spotlight again on Tuesday as lawmakers in the U.S. Senate questioned top markets watchdogs over how to better regulate the highly volatile and risky emerging asset class.
Corporate scandals are often the impetus for greater regulation. The Enron, Worldcom, and Arthur Andersen revelations led to the Sarbanes-Oxley Act, and the excesses of the financial sector paved the way for the Dodd-Frank Wall Street Reform and Consumer Protection Act. Regulators on both sides of the Atlantic made changes in the wake of the Volkswagen emissions scandal.
The U.S. Justice Department has offered to settle its emissions-cheating lawsuit against Fiat Chrysler Automobiles NV if the automaker recalls 104,000 vehicles and pays a substantial but unspecified civil penalty.
"Haven knowingly submitted false claims to the Medicare and Medicaid programs for medically unnecessary hospice care for certain patients who had lengths of stays greater than three years," Acting U.S. Attorney W. Stephen Muldrow in Jacksonville said in a prepared statement.
ONI operates independent diagnostic testing facilities (IDTFs) in Delaware and Maryland. The lawsuit alleges that ONI and Pfarr knowingly submitted false claims to Medicare
The U.S. Securities and Exchange Commission obtained a court order freezing the assets of a Texas-based initial coin offering that claimed to have raised more than $600 million.
The Commodity Futures Trading Commission today announced, in conjunction with the Department of Justice and Federal Bureau of Investigation's Criminal Investigative Division, criminal and civil enforcement actions against three banks and six individuals involved in commodities fraud and spoofing schemes.
Prosecutors on Wednesday asked a federal judge to side with a magistrate judge and let them add more claims to a whistleblower's allegation that Fresenius Medical Care Holdings Inc. violated the False Claims Act by billing Medicare for unnecessary hepatitis B tests.
False Claims Act (FCA) whistleblowers have enabled the federal government to recover nearly $30 billion, and in 2017 alone, qui tam cases filed by whistleblowers generated $898 million in recoveries.
Drs. Aytac Apaydin and Stephen Worsham, urologists based in Northern California, will pay $1.085 million to resolve allegations that they submitted and caused the submission of false claims to Medicare for image guided radiation therapy (IGRT) that was referred and billed in violation of the physician self-referral law (commonly known as the "Stark Law") and the Anti-Kickback Statute.
Allegations in a whistleblower lawsuit claimed that the San Diego-based health system improperly billed government-sponsored health plans for physical therapy services. Scripps Health will pay $1.5 million to resolve False Claims Act allegations related to improper billing for physical therapy services, the Department of Justice announced.
The former head of Barclays Capital Inc.'s (Barclays) New York foreign exchange trading operation was charged yesterday in an indictment for his alleged role in a scheme to defraud a client of Barclays through a method commonly referred to as "front-running." The charges relate to the manipulation of foreign exchange options in advance of an exceptionally large trade by the Palo Alto, California-based Hewlett-Packard Company.
