The Securities and Exchange Commission filed charges against an Ohio-based businessman who allegedly orchestrated a digital asset scheme that defrauded approximately 150 investors, including many physicians.
The SEC alleges that Michael W. Ackerman, along with two business partners, raised at least $33 million by claiming to investors that...
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Category: Whistleblower Cases
Bitcoin purchases and sales in darknet markets spikes according to Chainalysis
The number of Bitcoin transactions by volume on darknet markets, exchanges and gambling services increased substantially in the fourth quarter of 2019. Those markets include the purchase and sales of illegal drugs. According to a new Crytpo Crime Report published this week, over $600 million worth of...
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Sanofi charged in Depakine epilepsy drug that causes birth defects and impedes neurological development in pregnant patients.
The Global pharma company Sanofi has been formally charged over Depakine, a therapy for epilepsy that causes birth defects and impedes neurological development when taken during pregnancy. The compound sodium valproate was deemed to cause neurodevelopmental risks emerged. In 2015, authorities recommended that practitioners should no longer prescribe the treatment for women of childbearing...
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Airbus pays over $3.9 Billion in penalties to settle foreign bribery and ITAR case
Airbus SE (Airbus or the Company), a global provider of civilian and military aircraft based in France, has agreed to pay combined penalties of more than $3.9 billion to resolve foreign bribery charges with authorities in the United States, France and the United...
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Info tech company Practice Fusion pays $145 million to settle charges it set up electronic records system getting docs to prescribe opioids
A San Francisco-based health information technology company will pay $145 million to resolve criminal and civil charges that it helped set up an electronic health records system that encouraged physicians to prescribe opioids to patients who might not need them, federal prosecutors in Vermont said Monday.
Vermont U.S....
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U.S. Federal Agency issues notices of charges against five former senior execs of Wells Fargo
The Office of the Comptroller of the Currency (OCC) today issued a notice of charges against five former senior executives of Wells Fargo Bank, N.A., Sioux Falls, South Dakota, and announced settlements with the bank’s former Chief Executive Officer (CEO) and other members of the bank’s operating committee.
“The...
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Durable medical equipment maker Resmed to pay #37.5 million for paying kickbacks to DME suppliers, sleep labs and others
ResMed Corp., a manufacturer of durable medical equipment (DME) based in San Diego, California, has agreed to pay more than $37.5 million to resolve alleged False Claims Act violations for paying kickbacks to DME suppliers, sleep labs and other health care providers, the Department of...
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Fomer Countrywide Exec awarded $57.6 million in whistelblower case involving mortgage fraud. One of the largest awards ever
Edward O'Donnell, a former executive at mortgage lender Countrywide Financial, is set to collect a cool $57.6 million from Bank of America (BAC), for his role in exposing fraudulent activity at the firm. A federal grand jury ruled that Countrywide Financial, which is now owned by Bank of America, had defrauded government-backed...
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Caldwell University pays more than $4.8 Million to settle charges of defrauding vets and the VA education program
Caldwell University must pay the United States more than $4.8 million to resolve allegations that it engaged in a fraudulent scheme to defraud a federal education benefit program, U.S. Attorney Craig Carpenito announced.
“Caldwell University tried to hoodwink the Department of Veterans Affairs and, worse, veterans themselves, by claiming to offer online classes developed and...
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Securities and Exchange Commission investigating BMW for possible “punching” sales numbers to falsely inflate company value
The Securities and Exchange Commission investigating Bayerische Motoren Werke AG (BMW) for possible manipulation of sales figures, according to The Wall Street Journal. The SEC is specifically looking into whether BMW has been engaging in a practice known as sales punching in the U.S., which is when a company boosts sales figures...
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