The Latest on Cryptocurrency, Offshore Tax Avoidance and Money-Laundering, and Whistleblowing: A Report from OffshoreAlert Miami 2019

“A diverse collection of the hunters and the hunted.” That’s how the Wall Street Journal described the OffshoreAlert Conference in 2009. The 2019 conference was no different, bringing together those who work in the offshore industry, the government enforcers who try to stop the unscrupulous among them, and the asset recovery professionals who pursue lost funds. Alongside them were whistleblowers and their lawyers, who play a huge role in exposing...

SEC and DOJ Charge former Roadrunner CFO with Accounting Fraud

On April 3, the SEC and DOJ both announced charges against Peter Armbruster, former CFO of Roadrunner Transportation Systems Inc., for allegedly participating in a securities and accounting fraud scheme that lost Roadrunner shareholders over $245 million. According to Assistant Attorney General Brian Benczkowski, Armbruster and his co-conspirators “used sham accounting entries, misstated accounts, and other means to conceal millions of dollars of bad debts and other financial problems from...

CONSTANTINE CANNON LLP CELEBRATES 25th ANNIVERSARY

With offices in four cities, the law firm is home to among the most prominent practices in Antitrust, Whistleblower, and Art & Cultural Property Law. NEW YORK, NY (April 5, 2019) – Constantine Cannon LLP is pleased to celebrate its 25th anniversary. Founded by Lloyd Constantine on April 4, 1994 as a full-service antitrust boutique, the firm has grown over the years to become one of the leading law firms...

March 4, 2019

The CFTC announced an award of $2 million to an individual whistleblower under its Whistleblower Program. The CFTC revealed that the individual was not an insider, had provided expert analysis of market data, and received an award at least in part based on related actions brought by non-CFTC federal regulators.  As is their usual practice, the CFTC did not release further details about the case. CFTC

Top Ten State Fraud Recoveries of 2018

While 2018 saw many important federal settlements and whistleblower awards across a wide range of industries, state governments were equally busy rooting out fraud. In fact, in the last few years, recognizing the ever-growing need to hold businesses accountable for defrauding taxpayers, several states have passed their own false claims statutes modeled after the federal false claims act. These laws operate in a similar manner, allowing whistleblowers to bring qui...

Top Ten Federal Financial Fraud Recoveries of 2018

While 2018 has been a banner year for FCPA, Tax, and SEC & CFTC recoveries, in the bottomless pit of financial frauds that hurt taxpayers, the government, consumers, investors, and the American economy, 2018 brought us additional stunning recoveries for violations related to residential-mortgage backed securities, international economic sanctions, consumer protection, anti-money-laundering, EB-5 investment fraud, and even investment fraud in the Fyre Festival. Constantine Cannon's Top Ten Financial Fraud Recoveries...

World Conference of Accountants in Sydney Australia Discusses Whistleblowing

At the World Conference of Accountants in Sydney, Australia, Constantine Cannon partner Mary Inman led a discussion on "The Truth About Truth Telling.”  Inman and the panelists highlighted how accountants must sometimes make hard choices and blow the whistle to maintain a company’s integrity. Often reluctant heroes, whistleblowers play a critical role in protecting society from corporate wrongdoing.  However, the personal and professional repercussions from standing up for what’s right...

Ginger Buck

Ginger Buck is an attorney in Constantine Cannon’s New York office.  Ms. Buck specializes in the representation of whistleblowers under the False Claims Act and the vast array of other whistleblower rewards programs including those managed by the SEC, CFTC, FinCEN, NHTSA, and IRS.  Ms. Buck also serves as the firm’s Whistleblower Intake Coordinator, working with and screening the dozens of whistleblowers that reach out to the firm each week...

July 16, 2018

The CFTC has announced its first whistleblower award to a foreign whistleblower. The award totals over $70K, but the investigation that resulted in the award is yet-to-be revealed. This is the second award made under the CFTC’s new whistleblower rules, after the largest award in CFTC history, paid on July 12, 2018. CFTC

CTFC Brings Charges Over Fraud Involving Binary Options and “ATM Coin”

By the C|C Whistleblower Lawyer Team Today, the Commodity Futures Trading Commission (CFTC) announced charges against two individuals and four entities for engaging in a fraudulent scheme involving binary options and a virtual currency called “ATM Coin.” The CFTC also alleges that the defendants improperly accepted customer funds without first registering with the CFTC. Earlier this week, the United States Attorney for the Eastern District of New York filed a...