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The largest study of the link between breast implants and lymphoma to date found that there is a greatly increased risk of a rare cancer, according to the report published this month in JAMA Oncology. The study found breast implants are associated with a 421 times greater risk of anaplastic large cell lymphoma. This scientific evidence linking breast implants...
The Department of Justice recovered more then $3.7 billion in settlements and judgments in Fiscal Year 2017 from the False Claims Act according to the press release issued last week. The majority of the funds recovered were in lawsuits initiated by whistleblowers. Qui tam lawsuits led to $3.4 billion of the $3.7 billion in settlements and judgments. Whistleblowers received $392...
The Wall Street Journal reported yesterday that the reconciliation of the tax legislation has dropped the definition of collected proceeds for the IRS whistleblower program introduced into the Senate version that passed. The amendment was added by Senator Chuck Grassley, an advocate for whistleblowers and responsible for introducing the legislative provision in 2007 that created the IRS whistleblower program. The...
We are reaching the end of a decade since mortgage fraud hit its peak in 2007. However, the latest settlement by IberiaBank suggests that at least one lender continued aspects of mortgage fraud against the Federal Housing Administration (FHA) well after becoming informed of their wrongdoing. IberiaBank agreed to pay the United States more than $11 million in response to...
Over the past week, the U.S. Securities and Exchange Commission has issued total rewards of over $20 million to three SEC whistleblowers. As a result, SEC enforcement actions involving whistleblowers have now recovered more than $1 billion in financial remedies against whistleblowers. The SEC whistleblower program has been accepting tips for more than five years now and has been repeatedly...
The SEC today announced an enforcement action against the Initial Coin Offering (ICO) by PlexCoin. The SEC obtained a freeze on the purportedly $15 million in investor funds raised by PlexCoin from thousands of U.S. and international investors since August. According to the complaint filed by the SEC in the emergency action, PlexCoin and its owners promised early investors returns...
Cryptocurrency, led by bitcoin, has become a hot topic in the mainstream media recently. Both the CME and Nasdaq have announced plans to introduce trading in bitcoin futures. And the investing community continues to be split between those who believe it is the future of currency and those who believe it is a bubble or, worse, a fraud, as...
The Justice Department has appealed a decision by the U.S. Tax Court last year to provide an IRS whistleblower reward based upon a criminal fine and civil forfeitures. The Government's appeal to the D.C. Circuit attempts to reverse a favorable decision for whistleblowers on the definition of collected proceeds used in the terms of the IRS whistleblower program. The case...
Ikea relaunched the recall of 29 million dressers and chests last week after a California toddler was found trapped underneath an Ikea Malm dresser and died in May. The recall was first announced in June 2016 and Ikea has reportedly already processed more than 1 million recalls. The recall includes children's chests and drawers taller than 23.5 inches and...
We learned last week that the first settlement of claims in the government's ongoing investigation of ties between pharmaceutical manufacturers and patient assistance programs happened in September when Aegerion Pharmaceuticals agreed to pay more than $35 million to resolve criminal charges and a civil False Claims Act lawsuit. The settlement related to the marketing of Juxtapid, a lipid-lowering agent for...