The "Truth in Settlements Act," is a bipartisan bill introduced by Senators Elizabeth Warren (D-MA) and Tom Coburn (R-OK) that seeks to bring more transparency to federal fraud settlements by requiring that they be posted online in a publicly accessible and searchable format. If an agency determines that some or all of an agreement should be held confidential, the Act requires the Agency to issue a brief public statement explaining why. The only opposition to this bill? The U.S. Chamber of Commerce.
Former Countrywide Financial executive Edward O'Donnell will collect more than $57 million from DoJ's record $16.5 billion settlement with Bank of America for his role in exposing the sale of fraudulent mortgage securities in the run up to the 2008 financial crisis.
Virginia Attorney General Herring has joined a whistleblower-iniated state false claims Act case filed suit against Trinity Industries for defective highway guard rail caps.
Stryker will pay $80 million, $40 million under the False Claims Act, and subsidiary OtisMed, will be excluded from doing business with Medicare, Medicaid and other government health programs for 20 years, in exchange for the Deparment of Justice not criminally prosecuting Stryker for distributing knee surgery cutting guides after they were rejected by the FDA.
It's sometimes said that Ralph Nader came up with the term, but the practice of whistleblowing goes back to Britain in the late 19th Century when government, in the form of local unarmed police or "bobbies," would “blow the whistle” so that good citizen
Some months back we asked ourselves a tough question…
How can we explain the False Claims Act to press, public, and politicians in a way that is entertaining?
How can we do it in under 2-minutes?
Scott Adams salutes the special powers of whistleblowers in ferretting out liars, cheats, and thieves.
The 1986 False Claims Act amendments championed by Senator Chuck Grassley (R-IA) and Rep. Howard Berman (D-CA) remain America’s most successful fraud-fighting tool, recovering billions of dollars every year. The law has not only copied by the states, but strengthened several times thanks to continued bipartisan support on Capitol Hill, most notably in 2009 when Senator Grassley and Senator Patrick Leahy (D-VT) initiated legislation to close loopholes knocked into the law by lawyers working for fraudster defense and healthcare contractors.