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DOJ Lowers The Boom On COVID-19 Healthcare Scams, Again

Posted 05/28/21

Hey, fraudsters, did you hear? There was a global pandemic, so the government pumped trillions of dollars into the economy. Probably a good time to get a piece of the cut, you ask? They’ll never find out, right? So many ways to grift! Well, not so much. From the start, the cops on the beat, led by the United States Department of Justice, have screamed from the rooftops: “Don’t do it. We WILL...

Tagged in: COVID-19, Criminal Proceedings, FCA Federal, Financial and Investment Fraud, Government Programs Fraud, Healthcare Fraud, Importance of Whistleblowers, Laboratory and IDTF, Lack of Medical Necessity, Market Manipulation and Trading Violations, Medical Billing Fraud, Misrepresentations, Pharma Fraud, Securities Fraud,

Constantine Cannon Client Receives Maximum Award for Blowing the Whistle on ITG

Posted 05/21/21

The SEC has made a multi-million-dollar award to a Constantine Cannon client whose original information and assistance led to an enforcement action against the brokerage firm ITG. The award—30% of the recovery—is the maximum allowed under the SEC Whistleblower Program. The SEC has taken three enforcement actions against ITG in recent years, two of which involve ITG’s dark pool POSIT. POSIT is an alternate...

Tagged in: CC Lawyers, Dark Pools, Importance of Whistleblowers, Market Manipulation and Trading Violations, SEC Whistleblower Reward Program, Securities Fraud, Whistleblower Case, Whistleblower Rewards,

How will regulators respond to Bitcoin’s price fluctuations?

Posted 05/18/21

The price of Bitcoin—never stable—has become even more erratic in the last month. From April 17 to May 17, the price fell 26%. Such a huge drop would be noteworthy in a stock investment. But in something claiming to be a currency, that kind of instability is normally only seen in times of crisis and hyperinflation. Coming just as cryptocurrencies are making a play to be considered mainstream, this latest...

Tagged in: Cryptocurrency, Financial and Investment Fraud, Fraud in CFTC-Regulated Markets, Insider Trading, Market Manipulation and Trading Violations, Ponzi Schemes, Securities Fraud,

Partner Mary Inman joins Shaifali Joshi-Clark of the Ontario Securities Commission’s Whistleblower Office to discuss the OSC’s whistleblower reward program at Whistleblowing Canada Research Society event “The Expansion of Whistleblower Reward Programs in the U.S., Canada and Globally.”

Posted 04/30/21

On March 17, 2021, Constantine Cannon whistleblower partner Mary Inman joined Shaifali Joshi-Clark, a senior forensic accountant in the Whistleblower Office of the Ontario Securities Commission (“OSC”), as a co-panellist for a webinar entitled “The Expansion of Whistleblower Reward Programs in the U.S., Canada and Globally,” organised by Whistleblowing Canada Research Society (“WCRS”) and moderated by...

Tagged in: CFTC Whistleblower Reward Program, FCA Federal, International Whistleblowers, SEC Whistleblower Reward Program, Securities Fraud, Whistleblower Rewards,

When the Deli’s Not Just a Deli

Posted 04/28/21

A market mystery recently caught the attention of financial journalists and the public more generally: a New Jersey deli that is seemingly never open and reports minimal profits is—on paper at least—worth $100 million after issuing public shares. The shareholders are few, and mostly in China. The owners are local (the revered wrestling coach) and not (a father-son investor duo with a history of shady...

Tagged in: Financial and Investment Fraud, Insider Trading, Money Laundering, Securities Fraud,

Jane Norberg Steps Down After Landmark Run As SEC Whistleblower Chief

Posted 04/16/21

Securities and Exchange Commission Decisions and Reports Book Volumes

Jane Norberg, Chief of the SEC's Office of the Whistleblower, will step down this month after five groundbreaking years. Norberg played a pivotal role in shaping the SEC Whistleblower Program into a model for how empowering whistleblowers can revolutionize government enforcement. Her tenure brought record payouts to whistleblowers, a streamlined award process, and a firm stand against any attacks on the public’s...

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

As SEC Whistleblower Chief Norberg Moves On, the Agency Reinforces Its Warm Embrace of Whistleblowers

Posted 04/16/21

With the SEC's recent announcement that Jane Norberg will be stepping down this month as the head of the SEC Whistleblower Office, the agency is losing one of its greatest whistleblower champions. As the agency so prominently reported, the Whistleblower Program under Norberg's tenure made roughly $650 million in whistleblower awards and reached a host of other milestones. This included nine of the Top-10 awards in...

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

Catch of the Week: Fraud Behind the Silver Screen

Posted 04/9/21

This week the SEC announced that it obtained an emergency asset freeze in an enforcement action against L.A.-based actor Zachary Horwitz and his company 1nMM Capital, LLC for allegedly running a $690 million Ponzi scheme. In its complaint, the SEC claimed Horowitz’s recent actions threatened to dissipate the remaining investor funds in his possession. While this story is still technically “mid-catch,” the...

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

Watch Now: Eric Havian Joins OffshoreAlert Panel with SEC, CFTC, and IRS Whistleblower Officials on Rewards for Domestic and Foreign Whistleblowers

Posted 04/2/21

For the third year in a row, Constantine Cannon partner Eric Havian participated in OffshoreAlert’s annual conference, vGlobal, speaking on a panel with senior leaders of the whistleblower programs at the SEC, CFTC, and IRS. The panel, which you can watch below, “Rewarding Domestic & Foreign Whistleblowers: The Growth & Spreading Reach of U.S. Programs,” addressed the international reach of the U.S....

Tagged in: CC Lawyers, CFTC Whistleblower Reward Program, Financial and Investment Fraud, IRS Whistleblower Reward Program, SEC Whistleblower Reward Program, Tax Fraud,

CFTC Clobbers Cryptocurrency Con Man

Posted 04/1/21

Last week, the CFTC announced that a federal court entered a nearly $600 million default judgment against a British man who used bitcoin to defraud more than 1,000 people worldwide. The judgment is yet another indication that the CFTC will vigorously police cryptocurrency fraud.

The Scam

The CFTC filed a complaint against Benjamin Reynolds and his bitcoin trading and investment company, Control-Finance, back in...

Tagged in: Catch of the Week, Cryptocurrency, Financial and Investment Fraud, Fraud in CFTC-Regulated Markets, Ponzi Schemes,

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DOJ Lowers The Boom On COVID-19 Healthcare Scams, Again

Constantine Cannon Client Receives Maximum Award for Blowing the Whistle on ITG

How will regulators respond to Bitcoin’s price fluctuations?

Partner Mary Inman joins Shaifali Joshi-Clark of the Ontario Securities Commission’s Whistleblower Office to discuss the OSC’s whistleblower reward program at Whistleblowing Canada Research Society event “The Expansion of Whistleblower Reward Programs in the U.S., Canada and Globally.”

When the Deli’s Not Just a Deli

Jane Norberg Steps Down After Landmark Run As SEC Whistleblower Chief

As SEC Whistleblower Chief Norberg Moves On, the Agency Reinforces Its Warm Embrace of Whistleblowers

Catch of the Week: Fraud Behind the Silver Screen

Watch Now: Eric Havian Joins OffshoreAlert Panel with SEC, CFTC, and IRS Whistleblower Officials on Rewards for Domestic and Foreign Whistleblowers

CFTC Clobbers Cryptocurrency Con Man

The Scam

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