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Whistleblower News From The Inside -- June 24, 2016

Posted  June 24, 2016

By the C|C Whistleblower Lawyer Team

SEC charges “Frack Master” with running an $80M Oil and Gas Fraud — The SEC charged Chris Faulkner – the CEO of Breitling Energy Corporation and recurring guest on CNBC, CNN International, Fox Business News, and the BBC to discuss oil-and-gas topics – with disseminating false and misleading offering materials, misappropriating millions of dollars of investor funds and attempting to manipulate BECC’s stock.  SEC

Bank of America to pay $415M to settle SEC probe — The bank’s Merrill Lynch brokerage unit put at risk customer assets worth as much as $5 billion to $58 billion at a time, depending on the week, over a period spanning 2009 to 2015, the SEC said, because the bank didn’t set aside enough money in safeguarded accounts meant to act as a cushion in case of financial trouble. Wall Street Journal

About 5% of home healthcare agencies show potential signs of fraud – A new report from by HHS’ Office of Inspector General shows more than 500 home healthcare agencies and 4,500 doctors across the country share characteristics that often point to home healthcare fraud.  Modern Healthcare

Cambodia deports 25 Taiwanese fraud suspects to China — A team of 90 Chinese police arrived in Phnom Penh to pick up the 25 Taiwanese nationals and another 14 Chinese nationals detained in Cambodia over suspected involvement in internet and telephone fraud.  Reuters

Mexican president vetoes package of anti-corruption bills — Mexican President Enrique Pena Nieto on Thursday vetoed a package of anti-corruption bills, asking Congress to change a measure that would have forced people or firms who receive government funding to publicly disclose their assets.  Reuters