State Street Bank and Trust has agreed to pay $530 million to settle charges it cheated several government bodies when pricing foreign exchange transactions. The case was first brought to the attention of the government by a group headed by Harry Markopolos, who first alerted the SEC about massive financial irregularities associated with Bernie Madoff.
U.S. Tax Court just gave a big win to whistleblowers in an IRS case dealing with “collected proceeds”. The opinion includes broad and sweeping definitions which includes criminal fines.
Clothing manufacturer and importer Motives, which has operations in China and Vietnam, has settled with the US Government for $13.375 million in response to a qui tam lawsuit.
The U.S. Senate has unanimously passed a resolution saluting the contributions of whistleblowers to combating wast, fraud, and abuse.
The Calgary Chamber of Commerce in Canada gets it: the False Claims Act is good for business.
If you are thinking about filing a False Claims Act case, one of the most important decisions you will make is your choice of attorney. Choose your attorney carefully and consider whether he or she has experience in qui tam lawsuits.
Sean McKessy, Chief of the SEC’s Whistleblower Office, will be leaving the agency later this month.
Bloomberg reports on the latest False Claims Act case filed against Prime Healthcare Services of Ontario, Calif.