By Admin | Published April 8, 2014 | Posted in Graft and Corruption | Tagged Tags: citigroup buyout, SEC whistleblower program | Leave a comment
Was Richard Bowen’s Whistle Stuffed?
Five years have passed since Lehman Brothers’ bankruptcy. Richard M. Bowen III, a former Citigroup executive who blew the whistle on their bad business practices, provided 1000 pages of documents to the Securities and Exchange Commission (SEC) and 28 pages of testimony to the Financial Crisis Inquiry Commission (FCIC). Nevertheless, Bowen’s voice has not been Read More
Read MoreWhistleblowing in Afghanistan Allegedly Elicits Retaliatory Response
I never did give anybody hell. I just told the truth and they thought it was hell. Harry S. Truman The U.S. District Court for the Eastern District of Virginia ruled in September 2013 that Mike Elder proffered sufficient evidence to continue with his False Claims Act action against DRS Technologies, Inc. (DRS). Facts of Read More
Read MoreSEC Whistleblower Program Gets Blowing
The Securities and Exchange Commission (SEC) announced August 20, 2013 that it awarded more than $25,000 in total to three whistleblowers. The SEC reports that this payment was the first installment in a series that is projected to total $125,000 for each whistleblower. Enforcement action The awards are from the SEC’s enforcement action against CEO Read More
Read MoreTransferring Confidential Data to IRS Earns SOX Protection for Whistleblower
Not everyone can see the truth, but he can be it. Franz Kafka The U.S. Department of Labor (DOL, in Vannoy v. Celanese Corporation, recently ruled in favor of a whistleblower who claimed retaliation after taking sensitive information from his employer and giving it to the Internal Revenue Service (IRS). While the decision indicates the Read More
Read MoreRetaliating Against a Nuclear Power Whistleblower
From the recent reports of retaliatory acts against whistleblowers, some wonder if the protections under the Dodd-Frank Act proscribing retribution against tipsters are known to companies and government offices. Regardless of whether a company committed fraud or other illegal acts, punishing employees who reported their suspicions is illegal. We will examine two whistleblowers who put Read More
Read MoreThe Bed Bug Whistleblower is Awarded Back Pay
A federal court ordered S.E.M. Villa II Inc., a nonprofit corporation that operates a retirement home in Milford, Ohio, to pay a former manager $20,000 in back pay. The former manager filed a complaint with the Clermont County General Health District alleging that S.E.M. Villa II was mishandling a bedbug infestation at the retirement home. Read More
Read MoreThe Securities and Exchange Commission Whistleblower Program Breaks Out with a $14 Million Award
The Securities and Exchange Commission (SEC) announced a $14 million award to a whistleblower whose tip led to an enforcement action. The whistleblower, who remains anonymous, gave original information to the SEC that enabled the agency to complete its investigation and enforce the matter in less than six months from receiving the tip. This is Read More
Read MoreAdopt an Internal Whistleblower Policy
It is highly recommended for companies and organizations to implement a strong internal whistleblower policy. The primary reasons for a corporate whistleblower system are to protect the company and its chief executive officer and chief financial officer from criminal indictment and the ensuing penalties and to protect the shareholders from losses of their equity interests. Read More
Read MoreBig Payout Rings Bank of America Fraud Trial
Money, not morality, is the principle commerce of civilized nations. – Thomas Jefferson Edward O’Donnell, a former executive at Countrywide Financial, Inc., may collect up to $1.6 million under an almost forgotten 1980s law. O’Donnell filed a whistleblower suit against the Bank of America last year under the False Claims Act, which empowers whistleblowers to bring Read More
Read MoreBlow Your Green Whistle to Protect the Environment
The Office of Inspector General is an independent office within the U.S. Environmental Protection Agency (EPA) that assists the agency in accomplishing its goals more efficiently. OIG conducts audits, investigations and evaluations of EPA programs and its contractors to promote effectiveness and prevent fraud, abuse and waste. OIG is dedicated to making America cleaner and Read More
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