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Whistleblower News From The Inside -- May 24, 2017

Posted  May 24, 2017

By the C|C Whistleblower Lawyer Team

SEC files charges in trading scheme involving confidential government information The SEC announced it “alleged [an] insider trading scheme involving tips of nonpublic information about government plans to cut Medicare reimbursement rates, which affected the stock prices of certain publicly traded medical providers or suppliers.” A federal employee at the Centers for Medicare and Medicaid Services (CMS) allegedly tipped his old colleague, a former CMS employee turned political consultant, who then tipped analysts at a hedge fund advisory firm. The Commission said “[t]he alleged scheme resulted in more than $3.9 million in illicit profits.” SEC

CIA director alerted FBI to pattern of contacts between Russian officials and Trump campaign associates — “The CIA alerted the FBI to a troubling pattern of contacts between Russian officials and associates of the Trump campaign last year, former agency director John Brennan testified on Tuesday, shedding new light on the origin of a criminal probe that now reaches into the White House. In testimony before the House Intelligence Committee, Brennan said he became increasingly concerned that Trump associates were being manipulated by Russian intelligence services as part of a broader covert influence campaign that sought to disrupt the election and deliver the presidency to Donald Trump.” Washington Post

Madoff fund paid millions to Breeden firm, zero to victims  “A firm hired by the U.S. to distribute $4 billion to victims of Bernard Madoff’s Ponzi scheme has racked up $38.8 million in billings over four years. The investors are still waiting for their first checks, though.” Bloomberg