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....
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)...
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...
By the C|C Whistleblower Lawyer Team/em
United Kingdom-based global financial services company HSBC Holdings plc entered into a deferred prosecution agreement and agreed to pay a $63.1 million criminal penalty and $38.4 million in disgorgement and restitution to resolve charges that it engaged in a scheme to defraud two bank clients through a multi-million dollar scheme commonly referred to as “front-running.”...
By the C|C Whistleblower Lawyer Team
Late last week, a federal judge determined that accounting giant PricewaterhouseCoopers (PwC) was negligent in its auditing of Colonial Bank, the Alabama institution that failed in 2009 in the midst of the financial crisis. Colonial failed as a result of a $2 billion fraud orchestrated by Florida-based mortgage lender Taylor Bean & Whitaker, a major Colonial customer, which was...
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...
By the C|C Whistleblower Lawyer Team
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By the C|C Whistleblower Lawyer Team
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By the C|C Whistleblower Lawyer Team
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By the C|C Whistleblower Lawyer Team
Spain's High Court is to question seven former executives from HSBC's Swiss private bank as part of an investigation into alleged money laundering and tax fraud triggered by tax information leaks from former employee turned whistleblower Herve Falciani.
The court said in a ruling that it had decided to widen the investigation to study the flow of funds from HSBC's Swiss...