Fifth Circuit Eliminates Key Whistleblower Retaliation Protections Under Dodd-Frank – A Pyrrhic Victory for Corporations

By Gordon Schnell In a legal ruling that many corporations are surely celebrating, the Fifth Circuit Court of Appeals has significantly narrowed the scope of who qualifies as a whistleblower under the Dodd-Frank Act.  It is only those individuals who actually provide information to the government (through the SEC or CFTC).  If a whistleblower only reports internally, to a supervisor or through the company's internal compliance program, there is no...

Coin Con: Two Companies and Co-Conspirators Pay $25M+ in Crypto Scam

By the Constantine Cannon Whistleblower Team The Commodity Futures Trading Commission (CFTC) continues to expand its oversight of cryptocurrency and digital asset markets, using its authority under the Commodity Exchange Act (CEA) to crack down on fraud. Recent enforcement actions highlight the agency’s aggressive posture in addressing fraud involving virtual currencies. The CFTC’s Whistleblower Program plays a key role in this effort by encouraging individuals with knowledge of violations of the CEA to...

Hang Onto Your Heart and Wallet this Valentines Day: How to Protect Yourself Against Romance Scams

With romance scams, the heart isn’t the only thing being stolen. While people are busy falling for sweet words and flirtatious folly, scammers are working their magic to woo people’s wallets across the globe. In time for Valentine’s Day, the Commodity Futures Trading Commission’s Office of Customer Education and Outreach recently launched an awareness program to combat the epidemic of relationship investment scams targeting Americans through social media, text messages,...

Five Constantine Cannon Partners Gain National Recognition

Earlier this week, five of Constantine Cannon’s whistleblower attorneys were honored for their exemplary work: Gordon Schnell, Alysia Solow, and Daniel Vitelli have been named to the 2024 New York Metro Super Lawyers list, while Marlene Koury and Taline Sahakian have been recognized in Lawdragon's 2024 list of 500 Leading Plaintiff Financial Lawyers.  The Super Lawyers list acknowledges the top 5% of outstanding lawyers through a selection process of peer...

A Staggering Number of NYC Housing Authority Employees Charged with Bribery, Extortion

In a massive takedown called the “largest single-day bribery takedown in the history of the Justice Department,” the DOJ recently unsealed “bribery and extortion charges against 70 current and former employees of the New York City Housing Authority (‘NYCHA’).” According to the DOJ, the NYCHA provides housing “to 1 in 17 New Yorkers” and receives “over $1.5 billion in federal funding.”  When outside contractors are needed to perform repairs or...

Catch of the Week: Freepoint Commodities

This week's Department of Justice (DOJ) Catch of the Week goes to Freepoint Commodities.  Last Thursday (December 14), the Connecticut-based commodities trading company agreed to pay roughly $98 million to settle government charges it violated the Foreign Corrupt Practices Act (FCPA) by paying bribes to Brazilian government officials.  The company also agreed to disgorge roughly $7.6 million to the Commodity Futures Trading Commission (CFTC) in a related matter. The FCPA...

Top Ten State Fraud Recoveries of 2021

State enforcement of anti-fraud laws is an important deterrent and tool to create accountability.  In cases of healthcare fraud and financial fraud, including government contract fraud, unlawful kickbacks, and tax evasion, state governments act as critical enforcement authorities, including through state False Claims Acts. Whistleblowers with information about fraud that violates state laws, or involves state funds, should always consider reporting to state enforcement authorities.  Many state False Claims Acts...

Constantine Cannon Attorneys Mary Inman and Leah Judge Contribute to The Tech Worker Handbook

This week, Pinterest whistleblower Ifeoma Ozoma launched The Tech Worker Handbook, a collection of resources designed to help workers in the tech industry decide whether to speak out about wrongdoing.  The Handbook was created with funding from the Omidyar Network in partnership with the Signals Network, the Whistleblowing International Network, and Lioness Strategies.  Constantine Cannon’s own Mary Inman and Leah Judge provided assistance with content and drafting. The handbook has...

SEC Chairman Views Cryptocurrency Markets as the “Wild West” and Calls for More Investor Protection

During a recent speech discussing the intersection of national security with cryptocurrencies at the Aspen Security Forum, Gary Gensler, the new Chairman of the Securities and Exchange Commission (SEC), made clear the SEC will use its broad powers to continue protecting investors from the volatility associated with cryptocurrency markets which he characterized as the “Wild West.”  He also urged Congress to grant the Commission additional powers and resources to prevent...

Money Laundering and Related Financial Institution Fraud

Corrupt government actors who have profited from bribes and other wrongful conduct want to spend their ill-gotten gains. So do kleptocrats, drug dealers and other criminals. Individuals and entities subject to U.S. economic sanctions want to make purchases on the global markets and protect their ill-gotten gains. In order to shield their dirty money and access global markets, these bad actors take advantage of offshore banking in jurisdictions offering financial...