BOSTON, MA, April 12, 2021 – After a 16-year career in the Boston United States Attorney’s Office, where he was one of the nation’s most successful fraud prosecutors and recovered billions of dollars for American taxpayers, Gregg Shapiro has joined Jeffrey Newman Law to form Newman & Shapiro, a new whistleblower law firm. Newman & […]
Continue reading…Health Net Federal Services LLC pays over 97 million to settle investigation over inflated claims to Dept of Veterans Affairs
Health Net Federal Services LLC has paid $97,237,391 to resolve duplicate and inflated claims submitted to the Department of Veterans Affairs, Acting U.S. Attorney Phillip A. Talbert announced. In 2013, Health Net entered a $5.05 billion contract with the VA under the Patient-Centered Community Care program, which offered private health care to veterans when VA […]
Continue reading…Senators demand the U.S. Department of Transportation to implement whistleblower program previously mandated in 2015
The U.S. Department of Transportation (DOT) has failed to publish rules implementing a Congressionally-mandated auto safety whistleblower program. Senators Richard Blumenthal (D-CT) and Edward Markey (D-MA) sent a letter to Transportation Secretary Pete Buttigieg demanding that the DOT immediately implement the whistleblower program. “Over the past few years, we have observed increasingly devastating and tragic motor […]
Continue reading…CFTC orders Coinbase Inc. to pay $6.5 million for misleading reporting on trading
The Commodity Futures Trading Commission today issued an order filing and settling charges against digital asset exchange operator Coinbase Inc., based in San Francisco, California, for reckless false, misleading, or inaccurate reporting as well as wash trading (Entering into, or purporting to enter into, transactions to give the appearance that purchases and sales have been […]
Continue reading…The increase of Illegal frontrunning in the cryptocurrency world
Front-running, in stock trading and also in cryptocurrency trading, is the illegal practice of using insider information to make securities purchases knowing other purchasers are going to buy the same stock or currency and then selling it at a higher price. The key to this illegality is the non-public nature of the information being used […]
Continue reading…Securities and Exchange Commission files suit against New Hampshire firm LBRY for failure to register offering of securities LBRY Token
The Securities and Exchange Commission (SEC) has filed a civil suit against New Hampshire firm LBRY saying it “failure to register an offering of securities. The SEC Complain states: ” From 2016 through the present, LBRY offered and sold millions of dollars’ worth of unregistered securities to investors, in the form of a digital asset […]
Continue reading…Federal Court Judge orders Benjamin Reynolds Control-Finance Ltd. to pay $571 million for Bitcoin fraud of 1000 people including 169 in U.S.
A federal court Judge in New York has ordered Benjamin Reynolds of Control_finance to pay penalties totaling about $571 million, after finding that he acquired more than 22,000 bitcoin through a fraudulent online scheme. This was announced by the Commodity Futures Trading Commission (CFTC) regulator on Friday. The bitcoin handed over by more than 1,000 customers […]
Continue reading…Hedge fund Archegos Capital’s losses send banks scrambling
Archegos hedge fund experienced major losses last week resulting in reducing share values in CXredit Suisse and Nomura, both warning future losses in billions. According to Yahoo Finance, Archegos faced margin calls on its positions last week but failed to provide extra cash. Credit Suisse on Monday warned it was facing “highly significant” […]
Continue reading…U.S. Securities & Exchange Commission investigating Japanese telecom company Softbank Group for possible market manipulation
The Japanese telecommunications company and investment giant SoftBank Group Corp. is under S.E.C. investigation for alleged market manipulation. Softbank is the world’s largest technology-focused venture capital fund, and has a particular interest in ride-hailing companies. Except for Lyft Inc., SoftBank owns significant minority stakes in just about every other company in the market. According to […]
Continue reading…Study shows that only 20% of all insider trading occurences are caught in the United States
Illegal insider trading when there is buying or selling the security (stocks or bonds) by persons based on nonpublic information about the security. A recent research study shows that has find that only 20% of all illegal insider trading is caught and prosecuted. The US Securities and Exchange Commission prosecutes approximately 50 insider trading cases […]
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