New Program Giving Big Wins to Whistleblowers

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The Securities and Exchange Commission (SEC) recently announced earlier this month that it was quadrupling its first award in a new whistleblower program designed to root out financial fraud. Under the program, which is governed by the Dodd-Frank Act, tipsters can anonymously report private business or government wrongdoing and receive up to 30% of the… Read More

Financial Fraud Opens Door to Whistleblowers

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Recent Securities and Exchange Commission (SEC) investigations are showing a pathway to potential big awards for whistleblowing employees and others who help expose wrongdoing by corporate officials.  Earlier this month the SEC hit drugstore giant CVS Caremark Corp. with a $20 million fine for allegedly deceiving investors by cooking its books with deceptive accounting practices.… Read More

Russia Sanctions Open Door to Whistleblowers

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Many firms that previously profited off of trade with Russia may be tempted to violate the newly-imposed U.S. sanctions arising out of opposition to the Russian annexation of the Crimea.  Whistleblowers with knowledge of those violations can expose the fraud and earn a whistleblower reward for doing so. The Foreign Corrupt Practices Act, which outlaws bribes… Read More

Record Payout for Johnson & Johnson Whistleblowers

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CNN Money  reports that authorities reached a $2.2 billion settlement with pharmaceutical company Johnson & Johnson in November, allotting $167.7 million to a group of whistleblowers .   According to documents and wire recordings produced by current and former employees, the company “marketed drugs for unapproved uses and gave kickbacks to doctors and nursing homes.” … Read More

Taking On Donald Rumsfeld

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Donald Vance thought he was doing the right thing. A U.S. citizen working in Iraq, Vance and a fellow contractor say they alerted U.S. officials to suspected illegal activity by their employer, an Iraqi security company, including alleged payments to Iraqi sheiks and involvement in illegal arms-trading. Far from being praised, the two whistleblowers found… Read More