By Steve Kardell | Published November 1, 2018 | Posted in Fraud | Tagged Tags: Dallas attorney, fraud, SEC fines, securities law violation |
SEC Fines Charles Schwab $2.8 Million for Failure to Report Suspicious Transactions
The U.S. Securities and Exchange Commission (SEC) recently fined Charles Schwab & Co., Inc. $2.8 million for failing to report a series of suspicious transactions by independent investment advisors it stopped from using the company to handle client accounts. Under the Bank Secrecy Act, all broker-dealers are required to report any such suspicious transactions that Read More
Read MoreCFTC Hands Out $45 Million Award to Group of Whistleblowers
The Commodity Futures Trading Commission (CFTC) recently awarded a group of whistleblowers more than $45 million for helping the agency identify fraudulent activity. Representatives of the CFTC said that this extraordinarily high payout, which represents a substantial increase from the awards granted in past years that tended to be smaller in scope, are evidence the Read More
Read MoreEndo Will Pay $13 Million to Settle Case Alleging Illegal Marketing Practices
Endo Pharmaceuticals recently settled a lawsuit with the state of Texas to the tune of $13.5 million, resolving allegations that the company engaged in illegal marketing practices for its drug Lidoderm. The lawsuit claimed Endo purposefully misrepresented the approved uses, safety and efficacy of the drug when marketing it to the Texas Medicaid program. This Read More
Read MoreDetroit Area Hospital Settles False Claims Act Case for $84.5 Million
William Beaumont Hospital, a hospital based in the Detroit area, agreed to pay $84.5 million to settle claims under the False Claims Act. The hospital was accused of having improper relationships with eight referring doctors that resulted in submitting false claims to Medicaid, Medicare and TRICARE. The Anti-Kickback Statute prohibits medical organizations and doctors from Read More
Read MoreInsurance Company Sued by Los Angeles Hospital Over $42 Million Whistleblower Settlement
A now-closed hospital in Los Angeles filed a lawsuit against its insurance provider, alleging a denial of coverage to the facility while the hospital was publicly criticized for alleged illegal referral agreements. The case stems from a whistleblower lawsuit filed in 2013 by Paul Chan against Pacific Alliance Medical Center (PAMC) under the False Claims Read More
Read MoreSettlement Reached in Whistleblower Case Involving Jacksonville Healthcare Management Firm
Healogics, a company based in Jacksonville, Florida, that handles the management of hospital-based wound care centers around the United States, reached a $22.5 million settlement in a case involving allegations that it knowingly violated the False Claims Act by overbilling Medicare for unnecessary hyperbaric oxygen treatments. The settlement announcement came from the U.S. Justice Department. Read More
Read MoreIs it Possible to Receive an SEC Whistleblower Award When Reporting Financial Fraud?
The U.S. Securities & Exchange Commission’s whistleblower program allows eligible whistleblowers to obtain monetary awards when providing the agency with original information about securities violations, which may include financial fraud. If the SEC uses the information you provide to bring a successful enforcement action against the offender, you could receive anywhere from 10 to 30 Read More
Read MoreCourt Approves Wells Fargo’s $142 Million Settlement in Class Action Lawsuit Over Fake Accounts
A federal court recently approved a $142 million class-action lawsuit settlement for Wells Fargo after the bank was accused of opening fake accounts in customers’ names. The settlement received preliminary approval nearly a year ago, and it was finally officially approved by the judge overseeing the suit. The settlement class is all of the people Read More
Read MoreCustoms Fraud a Growing Area of Whistleblower Law
Whistleblower lawsuits are on the rise across the board as would-be whistleblowers have been emboldened by more federal protections and increasingly valuable awards. A new field has suddenly jumped to the forefront in the world of whistleblower law: customs fraud. A 2016 decision by a federal appeals court in the case of United States ex. Read More
Read MoreEpic Systems Accused of Healthcare Fraud in Whistleblower Lawsuit
A lawsuit filed against Epic Systems, a digital health care records company based in Verona, Wisconsin, alleges the company systematically overbilled the government for Medicare and Medicaid. The lawsuit was initially filed under the False Claims Act (FCA) in 2015 by Geraldine Petrowski, a former employee for a health care company in North Carolina. Under Read More
Read More
