By Steve Kardell | Published November 23, 2020 | Posted in Fraud, Whistleblower Litigation | Tagged Tags: SEC, SEC whistleblower award, Securities and Exchange Commission |
SEC Issues $3.8 Million Whistleblower Award in Fraud Case
In July, the U.S. Securities and Exchange Commission (SEC) issued a $3.8 million award to a whistleblower who assisted the commission by providing crucial information during an ongoing investigation into a fraudulent scheme. According to the press release the SEC put out to announce the award, the whistleblower provided the agency with information that “helped Read More
Read MoreVereit Settles SEC Fraud Case to Tune of $8 Million
The United States Securities and Exchange Commission (SEC) recently charged Vereit, Inc. (previously known as American Realty Capital Properties, Inc.) with intentionally overstating important performance metrics, a form of fraud. As a result, Vereit agreed to settle the charges by paying an $8 million penalty, which will be shared among defrauded investors. Case background According Read More
Read MoreSEC Issues $125,000 Award to Whistleblower
The United States Securities and Exchange Commission announced an award of $125,000 in June to a whistleblower who went through the SEC’s whistleblower program to report wrongdoing. According to SEC representatives, the whistleblower’s information and assistance helped the SEC and another agency it was working with on the case bring a successful enforcement action against Read More
Read MoreAveta Settles Suit Alleging it Defrauded Medicare of $1 Billion
Josh Valdez, a former executive for a subsidiary of Aveta Inc., sued the company, claiming it had spent years engaged in a scheme to defraud Medicare of hundreds of millions of dollars. The lawsuit was originally filed in April 2011, but was under court seal until early 2014 and went through an extensive court process Read More
Read MoreSEC Sees Significant Increase in COVID-19 Related Tips and Complaints
The U.S. Securities and Exchange Commission (SEC) noted it has seen a “spike” in tips, complaints and referrals related to COVID-19, prompting brand new investigations for the commission. The agency is specifically focused on fraud relating to the pandemic. According to the SEC, it has issued more than 30 trading suspensions since early February based Read More
Read MoreWhistleblower Claims Wall Street Has Been Routinely Manipulating Mortgage Funds
A whistleblower claims there is evidence to believe Wall Street is once again engaged in some of the very practices that led to the financial crash of 2008. A whistleblower complaint submitted last year to the Securities and exchange Commission accuses some of the largest banks in the world (including Deutsche Bank and Wells Fargo) Read More
Read MoreLatest SEC Whistleblower Award: $3.8 Million
The most recent SEC whistleblower award was a $3.8 million bounty to a whistleblower who offered information to the agency that resulted in a successful enforcement action. As always, the information provided by the SEC about the whistleblower award was vague so as to protect the identity of the whistleblower. The SEC said the whistleblower Read More
Read MoreSEC Awards $27 Million to Whistleblower
April 2020 was a busy month for the SEC’s Office of the Whistleblower and its whistleblower award program. The headline award of the month was a $27 million award to a single whistleblower, which ranks among the larger awards given out by the SEC since the inception of its program. The award also helped the Read More
Read MoreCOVID-19 Fraud Cases are Coming: What To Expect
Healthcare fraud costs American taxpayers billions of dollars every year. With the widespread coronavirus pandemic, it is expected that much of the fraud in 2020 will be related to the COVID-19 crisis. But what will COVID-19 fraud look like? What we’re already seeing This spring, the United States Department of Justice put out a press Read More
Read MoreSecond Circuit Revives Old False Claims Act Case Involving Federal Reserve
The Second Circuit recently revived a False Claims Act case that arose out of the 2008 financial crisis. The case, United States ex rel. Kraus v. Wells Fargo & Co., two employees of banks that were later acquired by Wells Fargo alleged there was a longstanding and significant pattern of fraud in connection with the Read More
Read More
