A new treasury Department whistleblower rewards law that took effect on January 1 is called the Anti-Money Laundering Act of 2020. It created a new whistleblower program to encourage insiders at banks to report finance institutions violations of the Bank Secrecy Act. Those subject to this new law include banks, credit unions, money service...
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Category: Whistleblower Laws
SEC charges CEO and owner of GPB Capital and Ascendant Capital $1.7 BILLION Ponzi like scheme based on whistleblower SEC filing
The Securities and Exchange Commission today charged three individuals and their affiliated entities with running a Ponzi-like scheme that raised over $1.7 billion from securities issued by a New York-based asset management firm and registered investment adviser, GPB Capital. The SEC also charged GPB Capital with violating the whistleblower protection laws.
The SEC’s...
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Athenahealth Inc. of Watertown Massachusetts pays $18.25 million to settle kickback allegations for its electronic health reords products
Athenhealth Inc. a national electronic health records (EHR) technology vendor based in Watertown, Massachusetts, athenahealth Inc. (Athena), has agreed to pay $18.25 million to resolve allegations that it violated the False Claims Act by...
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Texas Heart Hospital pays $48 million to settle kickbacks case with Department of Justice and MD Whistleblowers to get $13.920 million
Texas Heart Hospital of the Southwest LLP, a partially physician-owned hospital in Plano, Texas, and its wholly owned subsidiary, THHBP Management Company LLC (collectively, the “Heart Hospital”) have agreed to pay the United States $48 million to resolve claims that the Heart Hospital violated the False Claims Act by knowingly submitting claims to the...
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Apple pays up to $800 million to settle investigation by states on deliberate slowing down of older iphones to extend battery life
Apple will pay $113 million to 34 states over its practice of deliberately slowing down older iPhones to extend their battery life. This will settle an investigation by the states including California and Arizona over how the company was not transparent about its iPhone battery problems that led to unexpected...
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U.S. Department of State is offering up to $10 million whistleblower rewards for info on interference with US elections by foreign government
The U.S. Department of State’s Rewards for Justice program is offering a reward of up to $10 million for information leading to the identification or location of any person who, while acting at the direction of or under the control of a foreign government, interferes...
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SEC issues its largest whistleblower award-$50 Million on Bank of New York Mellon over-charges case. BNY pays $700 million
The US Securities and Exchange Commission has paid its largest-ever whistleblower award $50 million.
The Wall Street Journal, which conducted an investigation about the wrongdoing, reported the whistleblower is a trader from Bank of New York Mellon (BKPRC) who alerted...
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As COVID-19 tanks stock market, cryptocurrency interest accounts drawing investors some high as 15% ; but better read the small print
As the stock market has sustained a direct hit by the CORONA-19 Virus, investors are seeking alternatives like precious metals and cryptocurrencies like BITCOIN and now cryptointerest accounts some of which are offering up to 12% interest on stable coins. One company, Crypto.com offers investors earning up to 6.5% on Bitcoin, 12% on stablecoins...
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The Internal Revenue Service hiring independent consults to help find cryptocurrency tax evaders
The IRS sent out a statement of work (SOW) on May 12 requesting help from independent consultants to crack down on cryptocurrency tax non-compliance. According to the SOW, the IRS is seeking help from technology companies with crypto tax software to reconcile taxpayers’ reported cryptocurrency gains and losses on the tax returns. The process...
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UTC Laboratories genetic testing to pay $42.6 million to end charges of unnecessary pharmacogentic testing and kickbacks for lab referrals
UTC Laboratories, Inc. (RenRX) has agreed to pay $41.6 million, and its three principals, Tarun Jolly, M.D., Patrick Ridgeway, and Barry Griffith, have agreed to pay $1 million to resolve allegations that they violated the False Claims...
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