Wells Fargo to Claw Back $75 Million From Former Executives
Posted 04/10/17
By the C|C Whistleblower Lawyer Team
Wells Fargo’s board announced that it would recover an addition $75 million in compensation from former CEO John Stumpf and former head of community banking Carrie Tolstedt. Wells Fargo released a 113 page report in conjunction with the announcement that called the warning signs of the problem involving fake accounts “glaring” and demonstrated a decentralized culture that...
By the C|C Whistleblower Lawyer Team
Barclays Reprimands Chief Executive for Trying to Identify Whistleblower – Barclays has reprimanded Chief Executive Jes Staley and will cut his bonus for attempting to uncover a whistleblower's identity, the British bank said on Monday, dealing a blow to a man who has been in the role little over 15 months. In a statement, the bank disclosed that British authorities were...
By the C|C Whistleblower Lawyer Team
On Monday, financial advisor Charles A. Banks IV pleaded guilty to wire fraud after duping NBA legend Tim Duncan into entering a shoddy multi-million dollar investment deal. Banks, a 49-year-old wine executive who runs Terroir Capital, could face up to 20 years in prison.
In 2012, Banks convinced Duncan to invest $7.5 million into Gameday Merchandising LLC, a flailing...
By the C|C Whistleblower Lawyer Team
Lloyds Banking Group revealed a 100 million pound ($125 million) compensation scheme for victims of a fraud for which six people were jailed this year, as Britain's financial watchdog reopened a probe into the case. Lloyd’s is Britain's biggest mortgage lender and has been under pressure to compensate the victims at its HBOS business, who say it reacted too slowly to their...
By the C|C Whistleblower Lawyer Team
Money From Infection-Control Industry Muddies Research into Superbugs -- Makers of products using chlorhexidine to fight superbug bacteria in hospitals provide support for scientists who repeatedly find those products to be very effective – even as concerns about safety have mounted. As use of chlorhexidine products has grown, so have concerns about the role of...
By the C|C Whistleblower Lawyer Team
Wells Fargo 
By the C|C Whistleblower Lawyer Team
Feds’ LA raids target investor green card fraud – A multiyear investigation involving Mandarin-speaking agents culminated Wednesday in the execution of search warrants at several greater Los Angeles sites authorities allege were connected to a $50M E-B5 visa fraud scheme; the fraud operation enabled Chinese citizens, including fugitives, to secure US permanent residency. 
By the C|C Whistleblower Lawyer Team
In an effort to improve the IRS Whistleblower Office, Senator Charles E. Grassley (R-IA) and Senate Finance Committee ranking member Ron Wyden (D-OR) introduced 
By the C|C Whistleblower Lawyer Team
Pharmaceutical company will pay $19.8M to resolve allegations it overcharged the VA for drugs -- Sanofi-Pasteur agreed to the settlement, which resolves claims that it incorrectly calculated drug prices thereby overcharging the VA for drugs between 2002 and 2011.