Deutsche Bank to Pay Over $10 Million to Settle Two CFTC Cases

CFTC

The Commodity Futures Trading Commission today announced the settlement of two enforcement matters involving Deutsche Bank. In the first matter, Deutsche Bank AG resolved federal court charges stemming from alleged violations of various swap data reporting and other regulatory violations. In the second matter, the CFTC issued an administrative order against Deutsche Bank Securities Inc., filing and settling charges that two of DBSI’s traders engaged in spoofing. read more »

Nine Pharmacists Charged for Role in $12.1 Million Health Care Fraud Scheme

DOJ

Nine pharmacists were charged in three separate indictments unsealed last week for their alleged participation in a $12.1 million health care fraud scheme executed in Detroit and southern Ohio.

The indictments allege that the defendants received over $12.1 million due to fraudulent claims they submitted to Medicare, Medicaid, and BCBS. read more »

Insurance Company and Former CFO Charged With Faulty Loss Reserves Disclosures

SEC

The Securities and Exchange Commission today charged international insurance company AmTrust Financial Services Inc. and its former CFO Ronald E. Pipoly Jr. with failing to disclose material facts about how the company estimated its insurance losses and reserves.  They have agreed to pay a combined $10.5 million to settle the SEC’s charges.

“Disclosures regarding an insurance company’s loss reserve process allow investors to judge the reliability of the company’s numbers,” said David Peavler, Director of the SEC’s Fort Worth Regional Office. read more »