A federal jury has awarded the Government $111 million against two blood testing labs and their sales consultants were hit with a $111 million for knowing and willful violations of the Antikickback statute and False Claims Act (31 U.S.C. § 3729) (FCA). Blood testing labs Health Diagnostic Laboratory (HDL) and Singulex entered into exclusive...
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Category: Whistleblower Laws
Securities and Exchange Commission charges investment advisor with defrauding sports clients for undisclosed fees and high risk investments
The Securities and Exchange Commission charged Douglas Elstun, an investment advisor serving pro athletes, with defrauding his clients with undisclosed fees and misleading them about a high-risk investment strategy. Elston operated registered investment advisor (RIA) Crossroads Financial Management and billed clients annual fees as high as 1.25% of assets under management, above the 1%...
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Health Net Federal Services LLC pays over $97 million to settle investigation over inflated claims to Dept of Veterans Affairs
Health Net Federal Services LLC has paid $97,237,391 to resolve duplicate and inflated claims submitted to the Department of Veterans Affairs, Acting U.S. Attorney Phillip A. Talbert announced.
In 2013, Health Net entered a $5.05 billion contract with the VA under the Patient-Centered Community Care program, which...
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Senators demand the U.S. Department of Transportation implement whistleblower program previously mandated in 2015
The U.S. Department of Transportation (DOT) has failed to publish rules implementing a Congressionally-mandated auto safety whistleblower program. Senators Richard Blumenthal (D-CT) and Edward Markey (D-MA) sent a letter to Transportation Secretary Pete Buttigieg demanding that the DOT immediately implement the whistleblower program.
“Over the past few years, we have observed increasingly devastating...
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Study shows that only 20% of all insider trading occurences are caught in the United States
Illegal insider trading when there is buying or selling the security (stocks or bonds) by persons based on nonpublic information about the security. A recent research study shows that has find that only 20% of all illegal insider trading is caught and prosecuted. The US Securities and Exchange Commission prosecutes...
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Telemarketers pay $4 million to end case of soliciting patients and paying telemed docs for prescriptions for compounded drugs for kickbacks
Two teemarket company owners Jack Lee Stapleton and Jack Hunter Stapleton will pay $4 million to end allegations they engaging in schemes to generate prescriptions for compounded drugs and refer...
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SEC charges AT&T and three execs with selectively providing nonpublic information to research analysts
The Securities and Exchange Commission has charged AT&T, Inc. with repeatedly violating a securities regulation prohibiting disclosure of nonpublic ionformation, and three of its Investor Relations executives with aiding and abetting AT&T's violations, by selectively disclosing material nonpublic information to research analysts.
According to the SEC's complaint, AT&T learned...
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Pharmacy owner and accountant indicted in $134 million health care fraud scheme
The government is alleging that two Houston area men, Mohamed Mokbel and Fathy Elsafty, engaged in a $134 million healthcare fraud scheme. The indictment alleges Mokbel is the owner of several Houston area pharmacies, while Elsafty is his accountant. Mokbel was the CEO of 4M Pharmaceuticals Inc., which was the parent company for several...
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Switzerland’s oldest private bank Rahn & Bodmer pays U.S. $22 million for helping holders file false tax returns defrauding IRS of millions
Rahn & Bodmer, Zurich Switzerland's oldest private bank, will pay $22 million to the U.S. government for conspiring to help U.S. account holders file false federal tax returns and defraud the IRS hiding hundreds of millions of dollars offshore. Rahn & Bodmer helped U.S. account holders file false federal tax returns and commit tax...
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SEC charges AT&T and 3 execs with giving certain Wall street analysts access to nonpublic info without sharing it widely
AT&T and three of its executives have been charged by the SEC with selectively giving some Wall Street analysts access to nonpublic information without sharing it widely. The SEC said that internal documents showed that data was generally considered material to investors and cannot be selectively disclosed under the Fair Disclosure Regulation (Regulation FD)....
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