Top Ten FCPA Recoveries of 2022

In recent years, the United States government has recovered billions of dollars going after companies that bribe foreign officials in order to further their business interests, a practice that violates the Foreign Corrupt Practices Act (FCPA). Two principal United States government agencies, the Department of Justice and the Securities and Exchange Commission, investigate and prosecute FCPA violations. Whistleblowers who report FCPA violations to the SEC Whistleblower Program may be eligible to collect...

Top Ten Money Laundering Enforcement Actions of 2022

2022 was a big year for money-laundering enforcement.  It marked the first full year that the new FinCEN money laundering whistleblower office was up and running.  And, even more remarkably, by the end of the year, the FinCEN program expanded to welcome whistleblowers with information related to sanctions violations after Constantine Cannon attorneys called for this legal change following the Russian invasion of Ukraine.  This newly robust program shows the...

Six Constantine Cannon Attorneys Recognized in “2022 Lawdragon 500 Leading Plaintiff Financial Lawyers” Edition

Constantine Cannon is pleased to announce that six of its attorneys have been named to Lawdragon’s “500 Leading Plaintiff Financial Lawyers” list. According to Lawdragon, this annual list recognizes the top attorneys in the nation who represent plaintiffs in securities and other business litigation, antitrust, whistleblower claims, and increasingly complex financial litigation and data privacy invasions. The list of Constantine Cannon honorees includes a diverse group of deeply-experienced attorneys in...

SEC Keeps Crypto Fraud in Its Sights Through Expanded Enforcement Team

The SEC announced on May 3 that it was dramatically expanding its Cyber Unit and renaming the team the Crypto Assets and Cyber Unit.  The newly enlarged team will now include fully 50 enforcement personnel. The expanded team shows that the SEC is continuing to see crypto fraud as a major enforcement priority.  As the number of digital currencies continue to grow and the increasing number of new investors in...

Plaintiff Class Appeals Antitrust Decision in Sutter Health Case

Case to be appealed to Ninth Circuit; jury made decision based on incorrect legal instructions and incomplete evidence Today, the Plaintiffs in an antitrust case entitled Sidibe et al. v. Sutter Health are announcing their decision to appeal the Final Judgment entered in that case.  The suit alleged that defendant Sutter Health, a dominant hospital system in numerous Northern California markets, caused approximately $411 million in damages to the members...

March 28, 2022

The CFTC has awarded four whistleblowers $625,000 for their contributions to the agency’s enforcement actions.  Three of the whistleblowers provided support jointly, while a fourth provided a high level of assistance.  CFTC

March 18, 2022

The CFTC has made a $10 million award to a whistleblower whose tip sparked an investigation, and whose supplemental information helped move it along.  CFTC

March 10, 2022

The CFTC has awarded two whistleblowers awards totaling approximately $500,000 after they separately provided significant information and substantial assistance that helped lead to a successful enforcement action.  According to the agency, the whistleblowers’ tip helped expand the scope of an existing investigation and led to other key evidence.  CFTC

Precious Metals, Costly Fraud

Safeguard Metals LLC and its principal, Jeffrey Santulan a/k/a Jeffrey Hill were hit with multiple enforcement actions this week, alleging fraud in their sale of securities and commodities to investors they targeted to sell their existing securities and invest the proceeds into gold and silver coins.  The CFTC and 27 state security regulatory agencies jointly filed one action, and the SEC filed its own action.  Both allege that defendants defrauded...

DOJ Announces $5.7 Billion in FCA Recoveries in Fiscal Year 2021, with Boost from Purdue Settlement Claim

DOJ has released its annual announcement of recoveries in civil cases involving fraud and false claims against the government, and the total recoveries are eye-popping: $5.65 billion in settlements and judgments.  These recoveries make FY2021 the second largest year in False Claims Act history, and the largest since 2014. As in prior years, healthcare fraud dominated, with more than $5 billion of the total recoveries – 90% of the total. ...