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Whistleblower News From The Inside -- August 24, 2016

Posted  August 24, 2016

By the C|C Whistleblower Lawyer Team

Con man guilty of running penny-stock fraud scheme he started in prison – Edward Durante, who was convicted in 2001 of market manipulation, began a new scheme while serving time involving the use of unsuspecting brokers to defraud investors of more than $15 million.  Bloomberg

Former construction company executive guilty of conspiring to defraud government on SBA contracts – Walter Crummy, the former owner of MCC Construction Company, pleaded guilty to allegations that he illegal won dozens of government contracts reserved for small businesses worth over $70 million.  DOJ

Apollo Global Management settles SEC charges for $52.7 million – The private equity fund agreed to the payment to resolve allegations that it misled investors about certain fees it charged portfolio companies upon the IPO or sale of those companies and that it failed to adequately supervise a partner who charged personal expenses to the fund.  SEC

Orange County settles False Claims Act lawsuit against Tata Consultancy Services for $26 million – The international software vender based in Mumbai, India was accused of failing to deliver a property tax system under a contract with the county.  Voice of OC

Former UBS investment manager alleges whistleblower retaliation – Meraj Sepehrnia claims the Swiss bank unfairly dismissed him after he blew the whistle while working for the bank’s O’Connor hedge fund.  Reuters