Securities Fraud

SEC Settles Fraud Case Regarding Restrictive Language With KBR, Inc.

Whistleblowers with knowledge of possible securities fraud are able to report this fraud confidentially under the relatively new whistleblower provisions of the 2010 Dodd Frank Act. If an employee opts to report the information directly to the government, he or she is thereafter protected from retaliatory maneuvers by the employer and can even seek [...]

By | 2018-09-24T14:45:16+00:00 April 20th, 2015|SEC Fraud|

SEC Announces Whistleblower Reward for Former Company Officer

Implemented by the 2010 Dodd Frank Act, the Securities and Exchange Commission (SEC) maintains a growing whistleblower program. Much like the False Claims Act, the SEC’s program is designed to offer confidential consideration of fraud claims, as well as incentives for successful prosecutions of costly and wasteful securities fraud. In today’s post, we discuss [...]

By | 2018-09-24T14:41:51+00:00 March 26th, 2015|SEC Fraud|

Securities Ratings Firm Standard & Poor’s Settles Fraud Charges for $58 Million

In a victory for the Securities and Exchange Commission, the securities ratings firm Standard & Poor’s has agreed to settle claims it fraudulently certified certain mortgage-backed securities as good investments, as well as claims the firm used a certain methodology to calculate risk with regard to commercial mortgage-based securities when, in fact, a different [...]

By | 2018-09-24T14:58:47+00:00 February 10th, 2015|SEC Fraud|

Know Your Rights as a Whistleblower: Workplace Anti-Retaliation Rules

Making the decision to come forward as a whistleblower often takes both courage and gumption. The negative consequences that have faced whistleblowers range from unkindness to threats of violence – and everything in between. For whistleblowers planning to expose fraud in the workplace, many fear that their decision to expose [...]

By | 2018-03-27T10:25:16+00:00 July 18th, 2014|False Claims Act Information|

SEC Settles Unprecedented Whistleblower Retaliation Lawsuit

Like several other federal agencies, the Securities and Exchange Commission has implemented a whistleblower program allowing those with first-hand knowledge of fraud to come forward, report what they know, and enjoy protection from employer retaliation. As we have reported in the past, employees choosing to report fraud to internal compliance authorities do not enjoy the [...]

By | 2018-09-24T14:46:54+00:00 June 26th, 2014|SEC Fraud|

Commodity Futures Trading Commission and SEC Issue Whistleblower Rewards; Withhold Details

While healthcare fraud remains a top priority for the Department of Justice and other governmental agencies, several other areas of fraud are also on the rise – including misconduct against the Internal Revenue Service, Securities and Exchange Commission, and the Commodities Futures Trading Commission.  All of these agencies recently implemented whistleblower regulations which were drafted [...]

By | 2019-02-20T10:52:18+00:00 June 24th, 2014|Commodities Futures Trading Fraud, SEC Fraud|

The Threat of Securities Fraud: A Global Perspective

In recent years, Congress expressed interest in mimicking the federal False Claims Act in an effort to identify, punish, and deter acts of fraud against taxpayers, investors, and the federal government as a whole in other areas. As a result, the 2010 Dodd Frank Act, which was drafted to implement serious changes to Wall Street, [...]

By | 2018-09-24T14:55:28+00:00 January 28th, 2014|SEC Fraud|

The Dodd-Frank Act and FCPA Whistleblowers

The federal government uses the Foreign Corrupt Practices Act (FCPA) as a means to prosecute and punish those individuals who violate securities laws or bribe foreign officials. For instance, when someone bribes a foreign government to expand business abroad, falsifies financial records or disregards internal control guidelines under securities laws, they can be prosecuted under [...]

By | 2018-06-14T11:12:42+00:00 July 3rd, 2013|SEC Fraud|

Investment Advisors Charged in Securities Fraud Scheme

The Securities and Exchange Commission (SEC) recently announced charges were being filed against one investment adviser and settled with another for both their roles in a scheme to misappropriate funds. Jorge Gomez, who formerly operated in Dallas and Mexico, is now facing charges for allegedly funneling millions of dollars from an investment advisory client. The [...]

By | 2018-09-12T12:25:13+00:00 June 27th, 2013|SEC Fraud|

Mortgage Fraud Scheme Lands Real Estate Developer Behind Bars

Brooklyn U.S. Attorney Loretta Lynch recently announced the arrest of a New York real estate developer for his participation in a long and torrid mortgage fraud scheme. Schelton Assoumou, owner of Brooklyn Renaissance Development Inc., was taken into custody on January 15 and appeared later that same day before United States Magistrate Judge Robert M. [...]

By | 2018-09-13T12:12:54+00:00 June 20th, 2013|Mortgage Fraud|
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