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Whistleblower News From The Inside -- September 9, 2016

Posted  September 9, 2016

By the C|C Whistleblower Lawyer Team

Wells Fargo will pay $190 million to settle customer fraud case – Wells Fargo will pay $185 million in penalties and $5 million to customers that regulators say were pushed into costly financial products that they did not need or even request.  Regulators also say that Wells Fargo employees opened more than 2 million deposit and credit card accounts that may not have been authorized in order to receive bonuses and hit sales targets. Reuters

Former American Realty Capital CFO Brian Block arrested on securities fraud charges — According to the charges, Mr. Block, along with former CAO Lisa McAlister, plotted to manipulate a financial measure used to provide earnings guidance in 2014, making it appear that the company had met second-quarter estimates, when it had fallen short. WSJ

Three former Tesco executives charged with fraud over accounting scandal — Three former Tesco executives have been charged with fraud in connection with an accounting scandal that rocked the British supermarket giant two years ago.  The charges stem from a criminal investigation after the company announced that it had overstated its first-half profit by 263 million pounds, about $420 million at the time, and that it had suspended several executives over accounting irregularities.  NYT

1 in 5 seafood samples are frauds — One in five seafood samples tested worldwide turn out to be completely different from what the menu or packaging says, according to a report on seafood fraud released by the ocean conservation group Oceana. Of the more than 25,000 seafood samples the group analyzed, 20 percent were incorrectly labeled.  Seattle Times

Joseph Gordon-Levitt comments on Edward Snowden — Under the guidance of Oscar-winning director, Oliver Stone, Joseph Gordon-Levitt plays the NSA whistleblower in ‘Snowden,’ saying “I consider him the most extreme of patriots.” Hollywood Reporter