Question of the Week -- Will the TIAA Fraud Revelations Affect the Fate of Fiduciary Rules?
Posted 10/25/17
By the C|C Whistleblower Lawyer Team
TIAA (formerly known as TIAA-CREF) is an investment advisor that advertises itself as a committed company guided by “high ethical standards.” This reputation is now in serious danger after multiple revelations regarding the company’s alleged wrongdoing and hidden profit-driven culture. Just in the last couple of years, TIAA paid $5 million over excessive fees for...
By the C|C Whistleblower Lawyer Team
The SEC announced that a whistleblower has earned an award of more than $1 million for providing the SEC with new information and substantial corroborating documentation of a securities law violation by a registered entity that impacted retail customers.
“Today’s award reflects the impact that whistleblower information can have in uncovering violations that harm the retail...
By the C|C Whistleblower Lawyer Team
The 2008 mortgage crisis is still not behind us. Last week, The Nation 
By the C|C Whistleblower Lawyer Team
The SEC charged a Westchester, New York-based investment adviser with fraud stemming from lies to retail investors about the value of their investments in a Ponzi-like scheme.
The SEC alleges that, starting in approximately 2010, Michael Scronic began to raise money from at least 42 friends and acquaintances, many of whom were from his suburban community, in order to invest...
By the C|C Whistleblower Lawyer Team
An 
Aegerion Pharmaceuticals will plead guilty to charges concerning its prescription drug, Juxtapid, the Department of Justice announced on Friday. According to the Justice Department’s press release:
Aegerion introduced Juxtapid into interstate commerce that was misbranded because, among other things, Aegerion failed to comply with a Risk Evaluation and Mitigation Strategy (REMS). The resolution also...
By the C|C Whistleblower Lawyer Team
This week's Department of Justice "Catch of the Week" goes to Stockholm-based Telia Company AB and its Uzbek subsidiary Coscom LLC. Yesterday, the international telecommunications company agreed to pay $965 million to resolve charges of violating the 
By the C|C Whistleblower Lawyer Team
Allied Home Mortgage, and several other Allied companies, are facing a 
On Monday, the Department of Justice filed a civil suit against Paul Mangione, the former Deutsche Bank head of subprime mortgage trading, alleging that he “systematically and intentionally” lied about the quality of subprime mortgages underlying nearly $1.5 billion in mortgage-backed securities in the run-up to the 2008 financial crisis. Although DOJ has 
By the C|C Whistleblower Lawyer Team
Last Thursday, Equifax