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Page 26 of 40

The Former Khmer Rouge Slave Who Became a Whistleblower Against Wells Fargo

Posted  03/26/18
The New York Times reports on former Wells Fargo employee Duke Tran who blew the whistle on the company for allegedly being ordered to lie to customers who were facing foreclosure in 2014. Mr. Tran was fired from his job at Wells Fargo and since then has been locked in a four-year legal battle with the company alleging he was fired as retaliation for blowing the whistle on the bank’s alleged deceptive practices. Mr....

Tagged in: Financial Institution Fraud, Housing and Mortgage Fraud, Retaliation,

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Whistleblowers Sue NYC Employees’ Insurer Over Alleged Gross Mismanagement

Posted  03/22/18
By the C|C Whistleblower Lawyer Team Three whistleblowers, representing New York under the state’s False Claims Act, have filed suit against GHI, its parent company, EmblemHealth, and their partner, Empire Blue Cross Blue Shield. The suit alleges that the insurers engaged in a scheme to provide sub-standard healthcare to city employees and retirees while collecting billions in premiums. These insurers’ plan...

Tagged in: FCA State, Financial and Investment Fraud,

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SEC Makes Largest-Ever Whistleblower Awards

Posted  03/20/18
The Securities and Exchange Commission yesterday announced its highest-ever Dodd-Frank whistleblower awards.  According to the SEC press release trumpeting the landmark awards under the SEC whistleblower program, two whistleblowers will share nearly $50 million, and a third whistleblower will receive more than $33 million.  The previous high was a $30 million award in 2014. Consistent with its strong commitment...

Tagged in: SEC Whistleblower Reward Program, Securities Fraud, Whistleblower Rewards,

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SEC Fines New York Stock Exchange $14 Million for Regulatory Failures

Posted  03/7/18
By the C|C Whistleblower Lawyer Team In a landmark settlement, the Securities and Exchange Commission (SEC) announced yesterday that it has charged New York Stock Exchange LLC (NYSE) and two affiliated exchanges in connection with five separate investigations into several regulatory failings, including the first ever charge based on a violation on Regulation Systems Compliance and Integrity (Reg SCI)...

Tagged in: Regulatory Violations, Securities Fraud,

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Question of the Week -- Do you support Congress’s efforts to loosen Dodd-Frank?

Posted  03/7/18
By the C|C Whistleblower Lawyer Team Dodd-Frank’s regulatory scheme, passed in the wake of the 2008 financial crisis, aimed to limit the risks from any future financial shock. A key component of that protection was the requirement that banks regularly conduct and pass what are known as “stress tests”-computer simulations testing how well a bank’s mix of assets and liabilities will withstand economic...

Tagged in: Financial and Investment Fraud, Question of the Week,

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Deloitte & Touche Settles FCA Suit for $149.5M

Posted  03/1/18
By the C|C Whistleblower Lawyer Team Deloitte, the world’s largest accounting and consulting company,  has settled allegations arising from its role as an outside auditor of Taylor, Bean & Whitaker Mortgage Corp. (TBW), a failed mortgage broker that issue FHA and HUD secured loans. At one time, TBW was one of the largest privately held mortgage lending companies in the US, issuing over $35B in mortgages in 2007...

Tagged in: FCA Federal, Housing and Mortgage Fraud,

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Deloitte & Touche Settles FCA Suit for $149.5M

Posted  03/1/18
By the C|C Whistleblower Lawyer Team Deloitte, the world’s largest accounting and consulting company,  has settled allegations arising from its role as an outside auditor of Taylor, Bean & Whitaker Mortgage Corp. (TBW), a failed mortgage broker that issue FHA and HUD secured loans. At one time, TBW was one of the largest privately held mortgage lending companies in the US, issuing over $35B in mortgages in 2007...

Tagged in: FCA Federal, Housing and Mortgage Fraud,

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Fraudster of the Week -- BitFunder Founder Jon E. Montroll

Posted  02/23/18
By the C|C Whistleblower Lawyer Team On Wednesday, the Securities and Exchange Commission filed a lawsuit against Jon E. Montroll and his former company, BitFunder, alleging violations of the anti-fraud and registration provisions of the federal securities laws. In parallel criminal proceedings, the U.S. Attorney’s Office for the Southern District of New York charged Montroll with perjury and obstruction of...

Tagged in: Catch of the Week, Cryptocurrency, Regulatory Violations, Securities Fraud,

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Greek Parliament Opens Investigation into Pharmaceutical Bribery

Posted  02/22/18
By the C|C Whistleblower Lawyer Team After twenty hours of debate, the Greek Parliament has approved the creation of a committee to investigate accusations that Novartis, a Swiss pharmaceutical company, bribed at least ten high-level politicians. The investigation will now hold separate and secret votes on whether each of the ten involved politicians should be investigated. The list of politicians includes two...

Tagged in: FCPA, International Whistleblowers, Pharma Fraud,

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JP Morgan Whistleblower to Receive $30 Million Award

Posted  02/21/18
By the C|C Whistleblower Lawyer Team An unnamed whistleblower is set to receive a $30 million award from the Commodities Future Trading Commission (CFTC), according to Bloomberg, for reporting JPMorgan Chase & Co.’s failure to properly disclose that it was directing certain wealthy clients into investments that would be profitable for the bank. The conduct led to JPMorgan’s 2015 agreement to pay $367 million in...

Tagged in: CFTC Whistleblower Reward Program, Fraud in CFTC-Regulated Markets, Multiple Whistleblowers and First-to-File, Whistleblower Case, Whistleblower Rewards,

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