Pharmaceutical companies Abbott Laboratories and AbbVie Inc. (“Abbott”) will pay $25 million to settle federal allegations that it paid kickbacks and unlawfully marketed and promoted the drug TriCor® for: (1) use in treating, preventing, or reducing cardiovascular events and other cardiac health risk; (2) use in combination with statin drugs, and (3) use...
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Category: Fraud
DaVita Holdings Medicare Advantage pays $270 million to settle fraud charges whistleblower rewarded $10.1 million
HealthCare Partners Holdings LLC, d/b/a DaVita Medical Holdings LLC (DaVita), will pay $270 million to settle its False Claims Act liability for providing inaccurate information causing Medicare Advantage Plans to receive increased Medicare payments. DaVita voluntarily disclosed that caused MAOs to submit incorrect diagnosis codes to CMS and obtain...
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Precious metals dealer and owner charged with major fraud by Commodities Futures Commission
Royal Metals Group LLC and part owner Chelsea Gless of Iowa were charged with defrauding retail clients for false promises to deliver precious metal in return for funds. The Complaint also alleged that they obtained precious metals by fraud with promises of payment which were not made.
The Commodity Futures Trading Commission (CFTC)...
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Google censorship program in China Project Dragonfly shocks employees and human rights activists
Google has developed a program which censors its search engine for China codenamed and the controversial program is codename “Dragonfly.” What it does is to link users’ search history to their personal phone numbers, according to media reports. Internal documents leaked to journalists described how the search platform can block internet users in China...
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Enforcement Chief says Massive fraud in $50 trillion futures markets including front running unchecked as Congress starves agency of funds
The enforcement Chief of the Commodities Futures Trading Commission which oversees the $50 trillion futures market, Aitan Gielman, says flatly that there is a massive amount of fraud in the marketplace including front-running, insider trading and Ponzi schemes that the oversight agency is not pursuing because Congress has starved the agency of resources. As...
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S.E.C. charges branch manager of Raymond James, Joel Burstein, for aiding Jay Peak owner in misuse of investor funds in EB-5 offering
The Securities and Exchange Commission charged former registered representative and branch manager with Raymond James & Associates, Joe Burstein for helping facilitate an EB-5 offering fraud perpetrated by Jay Peak, Vermont-based ski resort. The SEC's said in its court filing that Joel Burstein, worked at Raymond James from 2001 to 2016, aided and abetted...
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Massachusetts Financial Services Company pays $1.9 million for false ads to promote portfolio SEC says
Massachusetts Financial Services Company, the investment advisory company was charged by the SEC with violations of the Advisers Act by making false statements in promoting "blended" research strategies that offered ideal portfolios containing stocks that were rated a "buy" by both MFS's fundamental analysts and quantitative models. The ads claimed to show that the...
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Sanofi pharmaceutical to pay over $25 million to settle bribes to Kazakhstan officials
The Securities and Exchange Commission today announced that Paris-based pharmaceutical company Sanofi has agreed to pay more than $25 million to resolve charges that its Kazakhstan and the Middle East subsidiaries made corrupt payments to win business.
According to the SEC's order, the schemes spanned multiple countries and involved bribe payments...
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CBS Whistleblower program to feature $145 million nationwide biofuels fraud
CBS News will air a segment featuring biofuels fraud whistleblower, Alex Chepurko on August 31 at 9 pm EST 8 Central on its Whistleblower Program. It overviews Chepurko's blowing the whistle on a nationwide biofuels scam.
While working for Caravan, Chepurko a nationwide scam as the company was selling finished biodiesel to another company...
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Wells Fargo Whistleblower: “I complained to Wells Fargo many times and it should have been prevented”
Yesenia Jesse Guitron, a Wells Fargo employee in Napa County California who began working for Wells Fargo in 2008 complained to the company when she noticed some of her co-workers were offering to open free accounts which were actually premium accounts with heavy fees. She says she repeatedly complained to the company...
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