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Page 19 of 26

Ex-Snapchat Employee Files Federal Whistleblower Suit

Posted  05/19/17
By the C|C Whistleblower Lawyer Team Former Snapchat employee Anthony Pompliano filed suit against the company for allegedly breaking federal whistleblower protection laws and misleading investors ahead of Snap's initial public offering.  Pompliano has previously filed suit in January against the company in L.A. County Superior Court on similar claims but decided to transfer the case to federal court and file for...

Tagged in: Securities Fraud, Whistleblower Case,

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A Whistle Was Blown, But Who Was Listening?

Posted  05/1/17
By the C|C Whistleblower Lawyer Team Michael J. Lutz is a former employee of mortgage insurer Radian Group who worked as an accounting specialist conducting Sarbanes-Oxley testing. In his job, Mr. Lutz ensured that Radian’s accounting controls were effective. In 2013, Mr. Lutz allegedly discovered that Radian was materially understating the amount of reserves against potential losses on bad loans to make the...

Tagged in: Accounting Fraud,

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How Two Wall Street Analysts Became SEC Whistleblowers

Posted  04/27/17
By the C|C Whistleblower Lawyer Team In 2012, an anonymous analyst noticed Texas-based medical device manufacturer Orthofix was outperforming expectations. The analyst suspected that something was off, as the company’s earnings reports showed its wholesale customers were taking longer than usual to pay Orthofix. The company’s executives blamed the delay on logistical problems at foreign offices. The analyst...

Tagged in: Accounting Fraud, Anonymity, SEC Whistleblower Reward Program, Whistleblower Case, Whistleblower Eligibility, Whistleblower Rewards,

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Whistleblowers Help Uncover EB-5 Visa Fraud

Posted  04/17/17
By the C|C Whistleblower Lawyer Team Approximately two weeks ago on April 5, authorities raided a business run by a California attorney and her father under suspicion of orchestrating a $50 million EB-5 visa scheme. The father and daughter owned a company called California Investment Immigration Fund LLC (“CIIF”). CIIF raised money from over one hundred Chinese investors for business projects. Under the EB-5...

Tagged in: SEC Whistleblower Reward Program, Visa Fraud, Whistleblower Case,

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$150 Million Settlement Announced in Vermont Ski Resort Fraud Case

Posted  04/14/17
By the C|C Whistleblower Lawyer Team A year after the owner and president of a Vermont ski resort were accused by the state and the SEC of massive fraud, a $150 million settlement has been reached with Raymond James Financial Inc., which is the financial institution allegedly at the heart of the fraud. The federal receiver overseeing Jay Peak ski resort said the settlement agreement will be filed in court next...

Tagged in: Securities Fraud, Visa Fraud,

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The One that Got Away: The Need for Whistleblowers to Help Defrauded Investors

Posted  03/6/17
By the C|C Whistleblower Lawyer Team On Friday March 3rd the SEC announced a settlement with Mexican homebuilding company Desarrolladora Homex S.A.B. de C.V. (“Homex”) on charges of reporting fake sales of more than 10,000 homes during a three-year period. Homex inflated the number of homes it sold by 317% and overstated its revenue by 355%, totaling approximately $3.3 billion. Homex declared bankruptcy in...

Tagged in: Accounting Fraud, Securities Fraud,

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Mining, Oil and Gas Whistleblowers More Essential Than Ever After SEC Rule Repeal

Posted  02/9/17
American companies are no strangers to the extractive industries in Africa. Exxon has operated on the continent for more than 100 years. Exxon is also well acquainted with rumors and scandal regarding corruption in the African oil industry, having been accused of paying bribes to the ruling family of Equatorial Guinea. Now, with the repeal of an SEC disclosure rule, whistleblowers are more necessary than ever to...

Tagged in: FCPA, International Whistleblowers, Regulatory Violations,

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Three Whistleblowers Split $7 Million SEC Award

Posted  01/23/17
By the C|C Whistleblower Lawyer Team On January 23rd, the SEC Office of the Whistleblower announced an award in excess of $7 million to be split between three whistleblowers. The whistleblowers provided information to the SEC that allowed it to conclude an enforcement action related to an investment scheme. The involvement of the three whistleblowers was split. The first whistleblower provided information that...

Tagged in: Financial and Investment Fraud, SEC Whistleblower Reward Program, Whistleblower Rewards,

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Financial Company HomeStreet Charged With Improper Accounting and Impeding Whistleblowers

Posted  01/20/17
By the C|C Whistleblower Lawyer Team The SEC announced that Seattle-based financial services company HomeStreet Inc. has agreed to pay a $500,000 penalty to settle charges that it conducted improper hedge accounting and later took steps to prevent potential whistleblowers in violation of SEC Rule 21F-17, which prohibits taking actions to impede communication with the SEC. According to the SEC’s order,...

Tagged in: Accounting Fraud, SEC Whistleblower Reward Program, Whistleblower Protection Laws,

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DOJ Catch of The Week -- Deutsche Bank And Credit Suisse

Posted  01/20/17
By the C|C Whistleblower Lawyer Team This week's Department of Justice "Catch of the Week" is shared between Deutsche Bank and Credit Suisse.  On Tuesday, the two European-based banking giants agreed to pay more than $12 billion between them to resolve charges they misled investors in the packaging, securitization, marketing, sale and issuance of residential mortgage-backed securities (RMBS) in the years leading...

Tagged in: Catch of the Week, Financial Institution Fraud, Housing and Mortgage Fraud, Securities Fraud,

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