SEC issues its largest whistleblower award-$50 Million on Bank of New York Mellon over-charges case. BNY pays $700 million

The US Securities and Exchange Commission has paid its largest-ever whistleblower award $50 million. The Wall Street Journal, which conducted an investigation about the wrongdoing, reported the whistleblower is a trader from Bank of New York Mellon (BKPRC) who alerted the SEC about the bank’s reported pattern of “overcharging big clients on currency trades.” The trader assisted […]

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As COVID-19 tanks stock market, cryptocurrency interest accounts drawing investors some high as 15% ; but better read the small print

As the stock market has sustained a direct hit by the CORONA-19 Virus, investors are seeking alternatives like precious metals and cryptocurrencies like BITCOIN and now cryptointerest accounts some of which are offering up to 12% interest on stable coins. One company, Crypto.com offers investors earning up to 6.5% on Bitcoin, 12% on stablecoins and […]

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The Internal Revenue Service hiring independent consults to help find cryptocurrency tax evaders

The  IRS sent out a statement of work (SOW) on May 12 requesting help from independent consultants to crack down on cryptocurrency tax non-compliance. According to the SOW, the IRS is seeking help from technology companies with crypto tax software to reconcile taxpayers’ reported cryptocurrency gains and losses on the tax returns. The process includes […]

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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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Genova Diagnostics Inc. Lab pays up to $43 million to settle charges of Medicare fraud on clinically unnecessary lab gastro effects tests

Genova Diagnostics had agreed to pay up to $43 million to settle allegations that it had fraudulently billed the federal government for unnecessary lab services. The complaint filed with the federal court in May 2018, Genova allegedly sought and received payment for fecal, blood and urine tests that have not been scientifically proven to diagnose any […]

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Despite COVID-19 crisis Securities & Exchange Commission whistleblower actions and awards mount

Despite the COVID-19 crisis, the Securities & Exchange Commission has continued to increase multi-million dollar awards awards under its Dodd-Frank whistleblower program. Since January 21, 2020, when the CDC confirmed the first case of COVID-19 in the United States, the SEC has issued 12 whistleblower awards totaling approximately $64 million. Some of the highlights of these awards […]

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Newman Law Offices announces settlement Encore Rehabilitation to pay $4.033 Million to settle whistleblower case

  Skilled Nursing Rehabilitation and Therapy company, Encore Rehabilitation Services, LLC (Encore) which services hundreds of skilled nursing facilities in 25 states will pay $4,033,346 with interest settling a False Claims Act lawsuit alleging healthcare fraud. The case, captioned UNITED STATES EX REL REZA SAFFARIAN AND AUDREY THEILE V. ENCORE REHABILITATION SERVICES, LLC ET AL […]

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Newman Law Offices False Claims Act whistleblower case against nursing home chain Saber Healthcare settles for $10 Million

The nursing home chain, Saber Healthcare Group LLC, and related entities, (Saber) have agreed to pay $10 million settling a whistleblower case in which it is alleged that Saber violated the False Claims Act by knowingly causing certain of its skilled nursing facilities (SNFs) to submit false claims to Medicare for rehabilitation therapy services that […]

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Securities & Exchange Commission awards $2 Million to whistleblower

The Securities and Exchange Commission today announced an award of approximately $2 million to a whistleblower who provided vital information and assistance that substantially contributed to an ongoing investigation.  The whistleblower’s information would have been difficult for the agency to obtain absent the tip. “The whistleblower’s actions in this matter were extraordinary,” said Jane Norberg, […]

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Guardian Elder Care therapy company pays $15.4 Million to settle False Claims Act case for billing medically unnecessary Rehab services to Medicare

Guardian Elder Care Holdings Inc., and related companies Guardian LTC Management Inc., Guardian Elder Care Management Inc., Guardian Elder Care Management I Inc., and Guardian Rehabilitation Services Inc., (Guardian) agreed to pay $15,466,278 to resolve False Claims Act allegations that they knowingly overbilled Medicare and the Federal Employees Health Benefits Program for medically unnecessary rehabilitation […]

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