The average Joe buys the occasional Powerball ticket hoping to win a few million bucks. T. Mark Jones, a pharmacist from Key West, decided to roll up his sleeves and become a whistleblower. His investigation of Big Pharma’s overbilling schemes saved taxpayers $3 billion dollars and earned $597,000,000.00 in whistleblower award money. Some say “crime […]
Whistleblower Opportunities – Too Big To Fail, Too Big To Jail Revisited
Every know and then we check back on our “friends,” America’s too big to fail banking behemoths. Bank of America, Citi, Wells Fargo and JP Morgan Chase. Usually when we write a new post its because Sen. Elizabeth Warren has been on the warpath and was able to extract more silence and stuttering from the […]
College Pays Millions In Whistleblower Suit
Northwestern University settled federal fraud charges yesterday following a suit filed by a whistleblower under the federal False Claims Act. University administrators agreed to repay the government $3 million although admitted no wrongdoing. False claims act cases against non-profits are still rare but are increasing in frequency. According to the complaint unsealed yesterday, Professor Charles […]
Whistleblowers to Receive $361,000 in Land Mine Detector Case
Two former executives of CyTerra Corporation became whistleblowers and are now slated to receive $361,000 for their efforts in uncovering pricing problems with their former company. CyTerra manufactures portable land mine detectors for the U.S. military. Earlier this month federal prosecutors settled with the company for $1.9 million. In 2003, the Army contracted with CyTerra […]
Whistleblowers Key to Fighting Government Fraud
The federal government loses billions of dollars to fraud every year. Mortgage companies falsify documents in order to earn commissions on loans. When the borrower can’t pay, the FHA or Fannie Mae steps in – your tax dollars. Ditto for doctors that bill Medicare for unnecessary services or services not even performed. Same for vendors […]
Defense Contractor Whistleblower Gets $1.8 Award
A former project manager for Science Applications International was awarded $1.8 million for exposing a massive overbilling scheme according to an AP story carried in the Ventura County Star. Prosecutors claimed the company over charged the government for homeland security training programs. Science Applications is a Virginia based defense contractor that employs over 40,000 people […]
One For The Record Books – Fannie Mae Settles Ponzi Scheme Case
Once upon a time, nearly a decade ago, the Federal National Mortgage Association – Fannie Mae – filed suit against a Brooklyn based mortgage company, Olympia Mortgage. When the complaint was filed in 2004, the real estate market was red hot, Fannie Mae was a privately owned company and few imagined the coming housing market […]
Inspector General Vacancies Hurt Whistleblowers
We were caught off guard this morning by a Wall Street Journal report revealing that several federal agencies had not filled Inspector General (IG) vacancies. Some agencies, like the State Department, have not had an inspector general since 2008! There are 78 inspector generals in the United States. Or at least there should be. Many […]
FHFA's Settlement With Citi A Charade?
[Ed. Note: The following post was written by Charles Seavey. Charles is an excellent writer and frequently posts on LinkedIn’s Securities Fraud and Financial Crimes groups. When not writing about fraud, he also is an accomplished attorney. The opinions in this piece are his. Stories like this should be upsetting to everyone who believes in […]
Whistleblower Leads To Fed Probe Of Prominent Miami Developer
Many federal investigations begin with a complaint from a concerned employee or citizen; a whistleblower. From a story in today’s Miami Herald, it appears two whistleblowers are behind the federal investigation of Carlisle Development Group and its CEO, Matthew Greer. Until now, both the company and Greer had spotless reputations. Press reports say the feds […]
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