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Financial and Investment Fraud

This archive displays posts tagged as relevant to financial and investment fraud. You may also be interested in the following pages:

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Top Ten Federal Financial and Healthcare Fraud Prison Sentences of 2022

Posted  02/2/23
Financial and healthcare fraud often can carry stiff monetary penalties for entities facing government enforcement, as shown on our other Top Ten Lists. Whistleblowers reporting wrongful conduct under one of the federal whistleblower reward laws sometimes find that criminal authorities are as interested in their allegations as civil enforcement agencies and authorities. Fraud can also result in criminal charges and...

Top Ten SEC and CFTC Recoveries of 2022

Posted  02/1/23
stock market numbers
In 2022, the SEC and CFTC redoubled their efforts to preserve market integrity and shut down financial frauds.  Both in size and composition, the agencies’ major recoveries look quite different from a year prior.  2021 was all about crypto, with four of the top ten recoveries relating to crypto offerings or exchanges.  With the recent collapse of the crypto market—exposing some of the biggest frauds since the...

Top Ten Federal Financial Fraud Recoveries of 2022

Posted  02/1/23
Federal enforcement of financial fraud takes many forms.  This year, thanks to positive developments in the world of money-laundering enforcement, we have expanded our Top Ten Lists related to federal financial fraud. In addition to documenting SEC and CFTC enforcement actions, FCPA enforcement, and money-laundering enforcement, the following list focuses on financial fraud in other realms. The Consumer Financial...

January 24, 2023

A former energy company executive accused of defrauding investors of more than $15 million and misappropriating investor funds has been sentenced to 5 years in prison after pleading guilty to wire fraud.  While serving as the executive chairman and managing partner of Citadel Energy, which supposedly helped oil and gas companies with fluid management, Joey Stanton Dodson made false and misleading representations and omissions to investors concerning the intended use of their funds and his own compensation.  After obtaining over $15.6 million from over 50 investors, Dodson misappropriated $1.3 million into his own accounts, and used some of it to repay investors of unrelated entities.  DOJ

Top Ten State Fraud Recoveries of 2022

Posted  01/19/23
State and local governments play a critical role in ensuring that businesses and individuals are held accountable if they commit healthcare fraud, financial fraud, government contract fraud, and more. For whistleblowers, state governments can offer additional opportunities to report wrongdoing. Where government funds are at stake – and state and local government spending reaching $3 trillion annually – more...

Top Ten FCPA Recoveries of 2022

Posted  01/13/23
International Currency
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...

January 13, 2023

The SEC has awarded more than $5 million to a whistleblower who first reported internally, and whose subsequent tip to the agency helped shape its investigation.  Based on the whistleblower’s information, agency staff were able to identify witnesses and effectively draft document and information requests.  SEC

Top Ten Money Laundering Enforcement Actions of 2022

Posted  01/10/23
person following a trail of money
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...
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