Category: News

SEC Approves Whistleblower Rules The SEC has approved the rules regarding the submission of SEC whistleblower claims pursuant to the Dodd-Frank legislation that was passed last year. As reported By David S. Hilzenrath, here, The SEC approved rules Wednesday that could make it highly lucrative for Wall Street whistleblowers and other corporate insiders to alert the agency to...

CVS pays $17.5 million dollars in settlement of Whistleblower lawsuit A recent $17.5 million dollar settlement of Medicaid related fraud reinforces the need for strong Whistleblower protections, and how one single employee can make a difference in exposing fraud and recovering tax dollars for the government. The Whistleblower lawsuit was filed against CVS Pharmacy Inc....

Telecommunication firm pays settlement to resolve suit Two former employees of a large telecommunication company helped the United States government and the state governments of 9 states recover $16.5. The settlement resolves a long-standing suit. In 2004, two former company employees filed a whistleblower suit against Avaya, Inc. for alleged fraud against the government. The two employees claim...

In the Battle Against Fraud, More and More Winners Emerge An aggressive push by the Department of Justice in the past year to investigate and prosecute false claims brings good news for prosecutors and qui tam plaintiffs.The federal government, as well as state governments, are recovering record amounts from successful civil qui tam settlements and judgments, and those rewards...

Proposed Legislation to Gut Whistleblower Provisions of Dodd-Frank Last week, Representative Michael Grimm (R,C-NY) along with House Financial Services Capital Markets Subcommittee Chair Scott Garrett (R-NJ), Rep. John Campbell (R-CA), and Rep. Steve Stivers (R-OH) introduced new legislation to amend the whistleblower provisions of the Dodd-Frank Act.  The proposed bill, entitled the Whistleblower Improvement Act...

Government Sees a Record Surge in Healthcare Fraud Prosecution New statistics released by independent research organization TRAC (Transactional Records Access Clearinghouse) show that the number of health care fraud prosecutions is set for a dramatic rise this year. Syracuse University organization TRAC releases government data obtained from submissions under the Freedom of Information Act. According...

IRS Concludes 2nd Successful Offshore Voluntary Disclosure Initiative International tax evaders beware: the IRS is cracking down on those who would hide offshore income, and as such are successfully collecting billions of dollars in taxes and penalties.A program introduced in 2009 called the Offshore Voluntary Disclosure Initiative (OVDI) has obtained 30,000 disclosures since its inception.The...