Former DOJ Fraud Prosecutor Gregg Shapiro Joins Jeffrey Newman Law To Form New Whistleblower Law Firm, Newman & Shapiro

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 & […]

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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 […]

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Novartis to pay $347 million to settle SEC and DOJ charges of foreign bribes in Greece Vietnam and South Korea

The Securities and Exchange Commission today announced that Novartis AG, a global pharmaceutical and healthcare company headquartered in Basel, Switzerland, has agreed to pay over $112 million to settle charges that it violated the books and records and internal accounting controls provisions of the Foreign Corrupt Practices Act (FCPA). The SEC’s order finds that local […]

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Medical diagnostics giant in Boston PerkinElmer under investigation for unnecessary genetic cancer tests

Boston’s medical diagnostics giant PerkinElmer Inc is the focus of a federal investigation about alleged Medicare fraud involving tens of thousands of unnecessary genetic cancer tests. Investigators are probing whether PerkinElmer enabled a scheme by some its laboratory clients. PerkinElmer ran high volumes of tests for those clients. Investigators are examining whether the firm knew […]

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UTC Laboratories genetic testing to pay $42.6 million to end charges of unnecessary pharmacogentic testing and kickbacks for lab referrals

 UTC Laboratories, Inc. (RenRX) has agreed to pay $41.6 million, and its three principals, Tarun Jolly, M.D., Patrick Ridgeway, and Barry Griffith, have agreed to pay $1 million to resolve allegations that they violated the False Claims Act by paying kickbacks in exchange for laboratory referrals for pharmacogenetic testing and for furnishing and billing for […]

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Banks collected $10 Billion in small business loan program and are about to collect more from $320 Billion fund just passed by Congress

Banks processing the Government’s $3 trillion loan program have received over $10 Billion in fees and there is more to come from the new moneys just allotted by Congress for small businesses. Taxpayers provided the money for the loans, which were guaranteed by the Small Business Administration. The Department of Treasury fact sheet, all federally […]

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For profit colleges and universities to receive $1.1 BILLION in federal funding from corona virus stimulus package

$1.1 Billion of the $2.2 Trillion corona-virus stimulus package will go to for-profit colleges and universities which already receive most of their money from the federal government by way of student loans which are paid directly to the schools through Pell Grants and other loans. The top 5 largest for-profits receiving the money are These […]

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Document showing bank fraud in an account.

An Overview of U.S. Bank Fraud Laws

There are two primary bank fraud laws in the U.S.: the Financial Institutions Anti-Fraud Enforcement Act of 1990 (“FIAFEA”) and the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (“FIRREA”). Individuals who report bank fraud pursuant to these laws may be entitled to financial compensation. Below is an overview of FIAFEA and FIRREA. If […]

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Canadian Securities Regulators crack down on exchange practices relating to crytocurrency assets

The Canadian Securities Administrators (CSA) have stated that merely providing users with a contractual right or claim to a crypto asset could subject the exchange to sanctions. The CSA stated that transactions without immediate delivery constitute derivatives sales. Even where the custodied asset is commonly considered as a commodity such as Bitcoin, it could be […]

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