The Illinois Supreme Court smashed the profit motive behind a pattern of tax false claims lawsuits by a prolific Chicago plaintiff attorney, ruling the "king of qui tam" can't serve as both the whistleblower and counsel for the whistleblower in such actions.
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It was all part of what regulators are calling "the Blackfish effect" — a spiraling crisis that threatened SeaWorld's reputation, according to the U.S. Securities and Exchange Commission.
The Securities and Exchange Commission today announced it has obtained a court order halting an ongoing Ponzi-like scheme that raised more than $345 million from over 230 investors across the U.S. The SEC also obtained an emergency asset freeze and the appointment of a receiver.
The SEC's whistleblower program has now awarded approximately $322 million to 58 individuals since issuing its first award in 2012. In that time, more than $1.6 billion in monetary sanctions have been ordered against wrongdoers based on actionable information received by whistleblowers.
The Securities and Exchange Commission today announced that Connecticut-based United Technologies Corporation will pay $13.9 million to resolve charges that it violated the Foreign Corrupt Practices Act (FCPA) by making illicit payments in its elevator and aircraft engine businesses.
Attorney General George P. Jepsen announced Tuesday his office is suing the co-defendants under the state's False Claims Act for three times the $10.9 million in losses it claims to have suffered from the fraud.
James C. Katzman, a Goldman partner and the leader of its West Coast mergers-and-acquisitions practice, dialed the bank's whistle-blower hotline in 2014 to complain about what he regarded as a range of unethical practices, according to accounts by people close to Mr. Katzman
The Securities and Exchange Commission today charged a group of 10 individuals and 10 associated entities for their participation in long-running fraudulent schemes that generated over $27 million from unlawful stock sales and caused significant harm to retail investors who were left holding virtually worthless stock.
In one of those denials, the agency said allowing whistleblowers to recover funds both under its program and a separate program for the same action "would produce the irrational result of encouraging multiple 'bites of the apple' in adjudicating claims for the same action."
If markets weren't bouncing because of presidential tweets, global debt, trade wars, coming elections and Senate hearing circuses, then they got another push this week from a top JPMorgan Chase & Co. analyst who says a stock crash spurred by electronic trading could unleash social upheaval not seen since 1968.
The government's early prosecution of the crime has faced a big setback. In just the second trial for spoofing, which the Dodd-Frank Act outlawed, a Connecticut jury acquitted a former trader at UBS of spoofing this spring. That raised questions about whether prosecutors can pursue these cases.
Dutch bank ING Groep NV admitted criminals had been able to launder money through its accounts on Tuesday and agreed to pay 775 million euros ($900 million) to settle the case.
BNP Paribas personnel deliberately traded to move the ISDAfix benchmark in a direction at the precise time it was being set, says the CFTC.
Insider trading cases are sometimes as simple as a well-timed phone call warning an investor to bail on a stock ahead of impending bad news.
The settlements announced today resolve allegations brought in a whistleblower action filed under the False Claims Act in the U.S. District Court for the Eastern District of Texas by Stephen Dean.
The Securities and Exchange Commission (SEC) has ordered Transamerica Asset Management (TAM) and three affiliated entities to pay $97.6 million to investors over errors in asset allocation models used in a number of funds offered by the firm from 2011 to 2015.
There were also whistle-blower complaints filed with the S.E.C. about undisclosed thefts and drug dealing in a factory.
The rulings are part of a civil fraud lawsuit that started in 2010, when Landis -Armstrong's former teammate - filed a complaint against Armstrong and Bruyneel as a government whistleblower.
For months, the U.S. Securities and Exchange Commission had been quietly and methodically scrutinizing Tesla Inc.
The Securities and Exchange Commission today charged the founder of San Francisco-based venture capital funds and his investment advisory firm with overcharging investors to fund personal projects, including sending millions of dollars to his own virtual reality production company.
