SEC Chair Atkins Doubles Down on More Targeted SEC Enforcement Approach -- Whistleblowers Still Wanted
By the Constantine Cannon Whistleblower Team A Newly Targeted SEC Under Atkins There is a new Securities Sheriff in town with President Trump’s appointment of Paul Atkins as Chair of the Securities and Exchange Commission (SEC). We have previously posted on what an Atkins-led SEC might look like (especially for whistleblowers) and the new direction the SEC has taken under his leadership so far. By all accounts, it is a...
Exactech Pays $8M to Settle False Claims Act Charges of Selling Defective Knee Implants
By the Constantine Cannon Whistleblower Team On Tuesday (September 16), the Department of Justice (DOJ) announced that Florida-based medical device maker Exactech Inc. agreed to pay $8 million to settle charges of violating the False Claims Act by billing the Government for defective knee implants.1 The settlement was approved as part of the company’s Chapter 11 bankruptcy proceedings and would have been significantly higher but for the company’s financial condition. Exactech's...
Whistleblower Question of the Week: What is the Process of Whistleblowing?
By the Constantine Cannon Whistleblower Team Witnessing fraud, safety violations, or corruption creates a dilemma: stay silent or speak up? For those who choose to speak up, understanding the process helps you do it safely and effectively. Whistleblowing involves reporting misconduct, unethical behavior, or illegal activity that harms the government or the public. The process typically begins when an individual, such as an insider or employee, observes wrongdoing firsthand. Many whistleblowers raise...
Payments News Update – September 12, 2025
Legal and Regulatory Developments SPOTLIGHT: Sorting Winners From Losers in Debit Digital Transactions Magazine – September 1, 2025 With merchants prevailing in their long-running legal battle to overturn debit rate caps set by the Federal Reserve, the largest debit card issuers could wind up the biggest losers, while Capital One Financial Corp. emerges as the big winner. U.S. District Court for the District of North Dakota Judge Daniel M. Traynor...
DOJ’s MSO Kickbacks Crackdown Continues with $6M Settlement
By the Constantine Cannon Whistleblower Team The Department of Justice recently announced a $6 million settlement from a laboratory CEO, physicians, and marketers who allegedly used management services organizations (“MSOs”) as vehicles for illegal kickback payments.1 MSOs are business entities that provide administrative and other services to healthcare providers, but in this case they were allegedly used to disguise kickback payments as investment distributions. Former True Health Diagnostics CEO Christopher...
SEC Whistleblower Program Alive and Well with Recent Wave of Whistleblower Awards
By the Constantine Cannon Whistleblower Team Questions on the SEC's Continued Support of Whistleblowers Like most federal agencies, since President Trump took office the Securities and Exchange Commission (SEC) has experienced major staffing cuts and a significantly scaled-back enforcement approach. At the same time, the agency has seemingly become more stingy in making whistleblower awards under the SEC Whistleblower Program, with substantially fewer awards (and of less money) compared to...
UPDATE: Continued Legal Challenges for Former Startup CEO Charged with Fraud
By the Constantine Cannon Whistleblower Team A few months ago, this blog posted on a trio of startup scandals related to Theranos, Frank, and IRL. The post discussed the legal problems that can arise when “fake-it-till-you-make-it” startup culture crosses the line, and it highlighted the crucial role whistleblowers can play in uncovering fraud. Recent developments indicate continued legal troubles for the founder and former CEO of IRL, one of the three...
DOJ Triples Down on Crusade Against Customs Fraud -- Calling All Whistleblowers
By the Constantine Cannon Whistleblower Team DOJ Launches Cross-Agency Task Force with DHS Last Friday (August 29), the Department of Justice (DOJ) launched what it describes as “a cross-agency Trade Fraud Task Force to bring robust enforcement against importers and other parties who seek to defraud the United States.”1 More specifically, DOJ is partnering with the Department of Homeland Security (DHS) to “aggressively pursue” evading tariffs and other customs duties, and...
V.SHIPS Pleads Guilty to Illegal Ocean Dumping: More APPS Whistleblowers Wanted
By the Constantine Cannon Whistleblower Team On August 27, V.Ships Norway A.S. (V.SHIPS) pleaded guilty to violating the Act to Prevent Pollution from Ships (APPS) and agreed to pay a $2 million fine. According to the Department of Justice (DOJ), “V.SHIPS admitted that oily bilge water and oily waste was discharged from the Motor Tanker Swift Winchester (M/T Swift Winchester) and the discharges were omitted from the Oil Record Book.”[1] This is just...
Payments News Update – August 29, 2025
Legal and Regulatory Developments SPOTLIGHT: Visa Abandons Open Banking in US as Data-Access Debate Rages Bloomberg – August 22, 2025 (subscription may be required) Visa Inc. shut its open-banking business in the US amid regulatory uncertainty about consumer-data rights and the prospect of higher fees for customer information, according to people familiar with the matter. The payments company has closed its open-banking operations, which provide technology to help third parties...
