WHISTLEBLOWER WIN: A $9.9m settlement between L&T Tech Services, Ltd (LTTS) & the US Government was just announced, the result of a multi-agency investigation into LTTS spurred by a whistleblower (qui tam) complaint filed in federal court by our client Michael Harmon. Qui tam lawsuits are a type of whistleblower suit brought under the False… Read More
First of its kind federal judicial order interfaces with next generation, legally-compliant blockchain CHICAGO, IL – A federal court today issued a restraining order to freeze accounts on the JuratBTC blockchain containing the cryptocurrency JTC. The accounts subject to today’s court order are controlled by 16 individuals and criminal organizations who have been sanctioned by… Read More
One Friday afternoon when I was about 10 years old, I was watching The Koz Zone on Channel 32 (WFLD, the local Fox affiliate in Chicago). The program was hosted by Rich Koz (who may be better known to some Chicago-area UHF viewers as “Svengoolie”) and came on in between the afternoon line-up of animated shows like… Read More
The United States government has increasingly militarized our borders and normalized treating immigrants in ways that are disturbing, abusive, and violent. And history suggests that with the Trump administration’s plan to quickly hire thousands more border patrol agents, these problems will only worsen. Loevy & Loevy has a cadre of passionate lawyers who aggressively challenge these… Read More
The national deficit has been declining since its peak in 2009, but balancing the federal budget will undoubtedly be a hotly debated topic during this presidential election year. One of the government’s largest areas of spending is Medicare. Accounting for 15% of the federal budget, with a spending budget of $540 billion, Medicare is the… Read More
The Securities Exchange Commission announced this morning that Swiss trader, Helmut Anscheringer, agreed to settle the illegal trading charges for more than $2.8 million. The SEC investigation revealed that Mr. Anscheringer profited over $1.8 million from insider information regarding the Florida-based fingerprint sensor technology company, AuthenTec. In 2012, Mr. Anscheringer learned from a longtime friend related to an… Read More
The media routinely reports SEC whistleblower settlements and the agency has not been shy to boast about its accomplishments. The leaders of the SEC have been extremely vocal about its zero tolerance policy for securities law violations. In fact, the SEC Whistleblower Program is one of the U.S. Government’s most aggressive whistleblower programs. Yet, despite… Read More
Currently in New York, there is no law to protect whistleblowers who report securities or other financial violations. New York Attorney General Eric T. Schneiderman is hoping to change that. He is proposing a new bill – the Financial Frauds Whistleblower Act. The proposed whistleblower program provides similar protections as the SEC whistleblower program. That… Read More
In 2010, President Obama signed the Dodd-Frank Wall Street Reform and Consumer Protection Act into law and established the SEC Office of the Whistleblower. This act was in response to the Great Recession and the need for greater transparency and accountability in the financial system. The SEC Office of the Whistleblower allows whistleblowers to provide… Read More
With the implementation of more legislation protecting whistleblowers, the rate at which whistleblowers come forward has increased. In 2014, the DOJ recovered a record $5.69 billion through settlements related to False Claims Act cases. That is up from $3.8 billion recovered in 2013. Since 2009, the DOJ has recovered $22.75 billion in total from fraud… Read More
