Ericsson agreed to pay the DOJ and SEC over $1 billion in one of the biggest Foreign Corrupt Practices Act enforcement actions ever. Telefonaktiebolaget LM Ericsson will pay the DOJ a criminal penalty of over $520 million and nearly $540 million to the SEC in disgorgement and interest. An Ericsson subsidiary from Egypt pleaded […]
Continue reading…SEC charges Iconix Brand Management Group and 3 former execs with accounting fraud creating fake revenue to meet analyst estimates
The Securities and Exchange Commission today charged brand-management company Iconix Brand Group Inc. and three of its former top executives with fraud. Iconix and two of its former executives have agreed to settle. The SEC’s litigation is proceeding against Iconix’s former CEO. The SEC’s complaint against former Iconix CEO Neil Cole and former Chief Operating Officer Seth Horowitz […]
Continue reading…Hospitals pay $20 million to settle allegations of false claims to Medicare, Medicaid and TRICARE and for unnecessary spinal surgeries
Sanford Health, Sanford Medical Center and the Sanford Clinic (collectively, Sanford) have agreed to pay $20.25 million to resolve False Claims Act (FCA) allegations that they knowingly submitted false claims to federal health care programs, including Medicare, Medicaid and TRICARE, resulting from violations of the Anti-Kickback Statute and medically unnecessary spinal surgeries. The Anti-Kickback Statute […]
Continue reading…SEC charges Biotech company MiMedx Group Inc. and execs with accounting fraud
The Securities and Exchange Commission today charged biotech company MiMedx Group Inc. and three former top executives with defrauding investors by misstating the company’s revenue and attempting to cover up their misconduct. MiMedx has agreed to a settlement to resolve the claims. The SEC alleges that from 2013 to 2017, MiMedx prematurely recognized revenue from […]
Continue reading…Framingham Massachusetts Lab pays $26.67 Million to resolve allegations of payment kickbacks for patient referrals and improper billing
Laboratory Boston Heart Diagnostics Corporation (Boston Heart), of Framingham, Massachusetts, has agreed to pay $26.67 million to resolve False Claims Act allegations involving payments for patient referrals in violation of the Anti-Kickback Statute and the Stark Law, as well as claims otherwise improperly billed to federal healthcare programs for laboratory testing, the Department of Justice […]
Continue reading…SEC wins verdict in federal court jury case against trading firm Avalon FA Ltd in Ukraine for manipulative “layering” trading schemes
Today, jurors in New York federal court returned a verdict in the Securities and Exchange Commission’s favor against a trading firm headquartered in Kiev, Ukraine, and two individuals for their roles in an unlawful trading scheme that generated more than $25 million in illicit profit. The SEC’s evidence at trial showed that Nathan Fayyer and […]
Continue reading…Pharmacy Plus Specialty pays $10 million to resolve Medicare fraud False Claims Act case for medications billed despite no medical need
Pharmacy Plus and Pharmacy Plus Specialty (collectively, Jewish Hospital), of Louisville, Kentucky, have agreed to pay $10,101,132 to resolve False Claims Act allegations that they knowingly submitted false claims to the Medicare program, the Department of Justice has announced. “Healthcare providers will be held accountable when then knowingly submit false claims for prescription drugs that […]
Continue reading…FDA investigating rotting yellow fin tuna resulting from Vietnamese company resulting in 47 people getting sick
The Food and Drug Administration is investigating an outbreak of food poisoning linked to yellowfin tuna from Vietnam that has resulted in 47 people nationwide getting sick and one person being hospitalized. Yellowfin is also known as ahi. The FDA said it has placed yellowfin tuna Truong Phu Xanh Co, LTD of Vietnam on Import Alert […]
Continue reading…LA Times investigation shows dangerous nuclear radiation leaks in Marshall Islands from our storage worse than Fujikima as the sea levels rise
The United States has deposited more than 3.1 million cubic fees of radioactive soil and debris including plutonium to the Runit Dome in the Marshall Islands and now the dome, called “the Tomb is a major risk of collapsing from rising seas and other effects of climate change. Officials in the Marshall Islands have sought […]
Continue reading…SEC awards over $260,000 to whistleblower over top on fraud
The Securities and Exchange Commission today announced an award to three individuals who jointly submitted a tip alerting the agency to a well-concealed fraud targeting retail investors. The information led to a successful enforcement action. The whistleblowers, who were themselves harmed investors, will collectively receive a payment of over $260,000 based on current collections. “Because […]
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