IRS cracking down on cryptocurrency new form asks about financial interest in virtual currency

The IRS published a new tax form containing a question about cryptocurrency on Thursday. The Schedule 1 form is part of the 1040 tax form for U.S. taxpayers to declare “Additional Income and Adjustments to Income.” The IRS first unveiled the draft of this form in October, as news.Bitcoin.com previously reported. The form is now finalized and posted […]

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University of Phoenix pays $191 million to settle charges of fraudulent marketing to students of partnerships with major companies

The University of Phoenix,  the nation’s largest for-profit college chains, agreed to a $191 million settlement for charges that the school had lured in students with fraudulent claims about partnerships with major companies that one of the chain’s own executives had described as “smoke and mirrors.”The school’s deceptions related to a marketing campaign that invoked […]

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Whistleblower reporting an instance of medicare fraud.

How to Report Medicare Fraud

Medicare fraud costs the government a tremendous amount of money each year. In fact, the government estimates that Medicare fraud costs approximately $60 billion a year. In order to combat this practice and encourage individuals to report Medicare fraud, the government offers those who report fraud, also known as “whistleblowers,” financial compensation. Therefore, if you […]

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Ericsson telecom pays over $1 Billion to DOJ and SEC for foreign bribes to foreign officials in China, Vietnam, Indonesia and Kuwait

  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 […]

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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 […]

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Jeffrey Newman Law discusses the most common types of pharmaceutical fraud.

Common Types of Pharmaceutical Fraud

As part of the government’s efforts to reduce fraudulent behavior, it offers financial compensation to people who report certain types of fraud. These individuals, also known as “whistleblowers,” are an important source of information for the government, which is why it rewards them a portion of the proceeds it recovers in fraud cases. One type […]

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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 […]

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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 […]

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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 […]

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