Credit Suisse a Swiss-based issuer of publicly traded securities in the United States, will pay a $47 million to the United States as a criminal penalty for its role in a scheme to corruptly win banking business by awarding employment to friends and family of Chinese officials.
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Category: Whistleblower Cases
Connecticut insurance salesman sentenced to 5 years in prison for tax fraud
Terry DiMartino, a Newington, Connecticut, insurance salesman was sentenced to 70 months in prison for tax fraud, announced Principal Deputy Assistant Attorney General Richard E. Zuckerman of the Justice Department's Tax Division. DiMartino was convicted after a jury trial in March 2016 of one count of corruptly interfering with...
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Apple begins large production of iPhone 6s in India to avoid import duty spikes
According to industry executives and Economic Times, Apple has reportedly started commercial production of the second iPhone in India, with a Wistron facility manufacturing the iPhone 6s for sale in the region and the iPhone SE, to Apple avoid import duties for the second India-produced model. According to research firm Counterpoint, he iPhone...
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Financial Service Company Credit Suisse Pays the U.S. $47 Million to settle bribe allegations of Dept. of Justice and S.E.C.
An investigation under the Foreign Corrupt Practices Act (FCPA) leads Credit Suisse, a business based in Zurich which offers financial services and counsel, to pay $47 million to the Department of Justice (DOJ). The Swiss financial giant was being investigated due to the employment methods of their Hong Kong unit, Credit Suisse...
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Nursing home dementia patients being given drug not approved by the FDA for dementia
The Centers for Medicare & Medicaid Services is alerting insurers that a drug called Nuedexta may be improperly given to nursing home patients including dementia patients for non approved uses. The drug alert, said that CMS is “monitoring the increased utilization of the drug Nuedexta” after allegations of potential use “for non-medically accepted indications.”It...
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Healogics pays $22.51 Million to end whistleblower claim for fraudulent billing of hyperbaric oxygen therapy
Healogics, Inc. has agreed to pay $22.51 million to settle allegations that it violated the False Claims Act by knowingly causing wound care centers to bill Medicare for medically unnecessary and unreasonable hyperbaric oxygen ("HBO") therapy. Healogics manages nearly 700 hospital-based wound care centers across the country.
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SEC shuts down investment ponzi scheme that bilked hundreds of over $102 million
The Securities and Exchange Commission charged and obtained an asset freeze against individuals and companies behind a $102 million Ponzi scheme that bilked investors throughout the U.S. According to the SEC's complaint, the defendants defrauded more than 600 investors through sales of securities in issuers they controlled, including First Nationle Solution...
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Customs broker fakes documents for cigar importers and admits mail fraud
A customs broker used cigars to run a $500,000 fraud. Customs brokers are supposed to help importers to make sure they pay the right amount of tariffs on imports and that the paperwork is correct. Alberto Rodriguez, 65, has admitted to the fraudulent scheme. The Court is deciding how much time he will spend...
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Merrill Lynch pays more than $15 million to Settle SEC charges that it misled customers into overpaying for residential mortgages
Merrill Lynch, Pierce, Fenner & Smith Inc. will pay more than $15 million to end S.E.C. charges that its employees misled customers into overpaying for Residential Mortgage Backed Securities (RMBS). Merrill Lynch agreed to repay more than $10.5 million to its customers and to pay penalties of approximately $5.2 million. The SEC found that...
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Massachusetts Attorney General files massive lawsuit against Perdue Pharmaceuticals over misleading claims to doctors on opioids
Massachusetts Attorney General Maura Healey has sued Purdue Pharmaceuticals for deceiving Massachusetts doctors and profiting millions from opioid sales in the state, according to the lawsuit. The suit calls for "full and complete restitution" for all damages caused by sales of their drugs. The suit asserts that Perdue violated the state's consumer...
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