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Question of the Week -- Are You Concerned About Bitcoin Trading?

Posted  12/20/17
By the C|C Whistleblower Lawyer Team Harkening back to the days of the dot-com bubble, investors are rapidly jumping on the bitcoin bandwagon. The cryptocurrency has gained has gained incredible interest as the price has skyrocketed from under $1,000 to over $19,000. Adding fuel to the fire, bitcoin futures began trading on the CBOE Futures Exchange and the CME also plans to allow futures trading. SEC Chairman...

Tagged in: Cryptocurrency, Question of the Week,

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Question of the Week -- Are cryptocurrencies a bubble?

Posted  12/13/17
By the C|C Whistleblower Lawyer Team The popular cryptocurrency Bitcoin was worth less than $1,000 a year ago—and now is worth over $16,000 (the exact price changes constantly).  This explosive rise is leading analysts to call its growth a bubble, or even “the bubble to end all bubbles.”  And it’s not just Bitcoin.  A number of cryptocurrencies exist, with varying levels of transparency about valuation,...

Tagged in: Cryptocurrency, Question of the Week,

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SEC Issues Bitcoin Warning to Investors

Posted  12/12/17
By the C|C Whistleblower Lawyer Team SEC Chairman Jay Clayton recently issued a statement warning investors about the risks of investing in cryptocurrencies and initial coin offerings (“ICO”). “A number of concerns have been raised regarding the cryptocurrency and ICO markets, including that, as they are currently operating, there is substantially less investor protection than in our traditional securities...

Tagged in: Cryptocurrency, Securities Fraud,

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IBERIABANK to Pay Over $11.6 Million to Settle False Claims Act Allegations

Posted  12/11/17
By the C|C Whistleblower Lawyer Team The Department of Justice announced Friday that IBERIABANK Corporation agreed to pay $11,692,149 to resolve allegations that they violated the False Claims Act. The allegations centered on certifications of compliance with Federal requirements to obtain insurance on mortgage loans from the Federal Housing Administration. IBERIABANK is a Louisiana corporation that has branches all...

Tagged in: FCA Federal, Housing and Mortgage Fraud, Whistleblower Case, Whistleblower Rewards,

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Fraudster of the Week -- Payday Loan Scammer Richard Moseley Sr.

Posted  11/17/17
By the C|C Whistleblower Lawyer Team On Wednesday, a New York jury convicted 73-year-old Richard Moseley Sr. of a $220 million fraud perpetrated against hundreds of thousands of financially vulnerable payday loan borrowers. Moseley stood trial for nearly three weeks on charges of wire fraud, aggravated identity theft, and violations of the Racketeer Influenced and Corrupt Organizations Act and the Truth in Lending...

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

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New York Hits Credit Suisse with $135M Fine for Forex Violations

Posted  11/14/17
By the C|C Whistleblower Lawyer Team Credit Suisse AG agreed to pay a $135 million fine to settle charges by the New York State Department of Financial Services (DFS) that the bank violated New York banking law through a variety of illegal activities that disadvantaged customers. Specifically, the government found that from at least 2008 to 2015, Credit Suisse "consistently engaged in unlawful, unsafe and unsound...

Tagged in: Financial Institution Fraud, Foreign Exchange, Market Manipulation and Trading Violations,

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Department of Justice Compensates Victims of Bernard Madoff Fraud Scheme With Funds Recovered Through Asset Forfeiture

Posted  11/10/17
By the C|C Whistleblower Lawyer Team The Department of Justice today announced that on Nov. 9, the Madoff Victim Fund began its initial distribution of $772.5 million in funds forfeited to the U.S. Government in connection with the Bernard L. Madoff Investment Securities LLC fraud scheme.  These funds will be sent to 24,631 victims across the globe. This distribution represents the first in a series of payments that...

Tagged in: Ponzi Schemes, Securities Fraud,

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Five Individuals Charged in Rolls-Royce Foreign Bribery Scheme

Posted  11/8/17
By the C|C Whistleblower Lawyer Team Charges were unsealed yesterday against three former Rolls-Royce employees and two other individual for their alleged participation in a scheme to bribe foreign officials to benefit a U.S.-based Rolls-Royce subsidiary, including to win work on a new gas pipeline. According to the unsealed indictment, the three Rolls-Royce employees along with an employee at a consulting firm...

Tagged in: FCPA,

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British Banking Whistleblowers in the Cross-Hairs

Posted  11/7/17
By the C|C Whistleblower Lawyer Team According to an article in today's New York Times, British banking whistleblowers "are being gagged and risk ending up broke and unemployed" despite whistleblower protections created since the financial crisis. For this reason, there is some movement in England to expand these protections to include an American-styled whistleblower rewards system to address the financial hardships...

Tagged in: Financial Institution Fraud, International Whistleblowers,

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SEC Charges Day Trader for Fraud and Market Manipulation

Posted  11/1/17
By the C|C Whistleblower Lawyer Team This week, the Securities and Exchange Commission (“SEC”) announced charges against a day trader accused of accessing over 100 victims’ brokerage accounts to make unauthorized trades that artificially altered various stock prices. The defendant, Joseph P. Willner, allegedly traded on those artificial prices using his personal account to secure at least $700,000 in illicit...

Tagged in: Market Manipulation and Trading Violations, Securities Fraud,

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