By Steve Kardell | Published May 25, 2023 | Posted in Employee Rights, Fraud, Whistleblower Litigation | Tagged Tags: employer retaliation, employment discrimination, financial fraud |
A former vice president of finance at Transdigm, a Washington aerospace supplier, has accused the company of retaliatory termination after she reported financial fraud. The discrimination suit alleged that Transdigm Group Inc. and AvtechTyee Inc. fired her for being an “emotional” and “aggressive” Latina woman who lacked tact and would not collaborate with others. The Read More
Read More2022 was a big year for federal financial fraud whistleblower actions. Some of the country’s biggest financial institutions were targeted by the Consumer Financial Protection Bureau, the Department of Justice and the Department of Labor. Here is a brief overview of some of 2022’s biggest cases: Wells Fargo: Wells Fargo was ordered to pay over Read More
Read MoreA new rule interpretation announced by the Securities and Exchange Commission has created concern among whistleblowers, who believe it could weaken incentives for whistleblowers to come forward with information about corporate fraud. The clarification officially went into effect on Monday, December 7. It says any tip from a whistleblower must provide insight “beyond what would Read More
Read MoreThe Commodity Futures Trading Commission (CFTC) announced a record judgment against JPMorgan Chase & Company and its subsidiaries. JPMorgan will pay out a record $920.2 million for a CFTC case, which includes the highest amounts of restitution, disgorgement and civil monetary amounts every for a “spoofing” case. Case background JPMorgan was accused of “manipulative and Read More
Read MoreThe 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 MoreA 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 MoreThe 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 MoreU.S. District Judge Barbara Jacobs Rothstein ordered PricewaterhouseCoopers LLP to pay the Federal Deposit Insurance Corp. more than $625 million for negligence in an audit of Colonial BancGroup, Inc., a bank holding company in Alabama that went under during the most recent economic downturn. The FDIC requested the damages, leading to the case overseen by Read More
Read MoreThe 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
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