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Whistleblower News From The Inside -- October 28, 2016

Posted  October 28, 2016

By the C|C Whistleblower Lawyer Team

Jury awards $7.3 million to Penn State whistleblower in Sandusky scandal — A jury in Pennsylvania awarded more than $7 million in damages to a former Penn State University assistant football coach who said the school retaliated by firing him after he implicated Jerry Sandusky as a molester of young boys.  Reuters

Hyundai and Kia reach $41-million settlement with California and other states — South Korean automakers Hyundai Motor Co. and Kia Motors Corp. are to pay $41.2 million to California, 32 other states and the District of Columbia to settle an investigation into their fuel economy ratings relating to misstated mileage numbers on more than 1.2 million vehicles in the United States.  LA Times

56 charged in $300M fraud scheme — Federal authorities charged 56 people in a vast scheme in which suspects posed as Internal Revenue Service agents and immigration authorities to siphon more than $300 million from thousands of unwitting victims to clear fictitious deportation warrants and phony tax debts.  USA Today

U.S. eyes long prison term for Wall Street scion’s fraud — U.S. prosecutors said Andrew Caspersen, the scion of a wealthy Wall Street family, should spend as long as 15-2/3 years in prison after he pleaded guilty to defrauding friends, family and a charity out of more than $38 million.  Reuters

LA Investment Adviser fraudulently overbilled clients, stole assets – The SEC’s complaint alleges that Marc D. Broidy and his firm Broidy Wealth Advisors billed clients excess fees and covered it up by altering the amount of management fees recorded on brokerage forms and that he fraudulently obtained additional funds to pay his personal expenses by misappropriating assets from clients’ trusts.   SEC