A whistleblower just took home $50 million -- the biggest award the SEC has ever paid

CNN

The US Securities and Exchange Commission has paid out its largest-ever whistleblower award — nearly $50 million.

The whistleblower tipped off the agency to a currency manipulation scheme at a massive bank, resulting in a "successful enforcement action," the SEC said Thursday.

The Wall Street Journal, which conducted an investigation about the scheme, reported the whistleblower is a trader from Bank of New York Mellon who alerted the SEC about the bank's reported pattern of "overcharging big clients on currency trades."

The trader assisted with the SEC's investigation for more than a decade. The bank was accused of giving pension funds less-than-desirable exchange rates, helping the bank make massive profits from the difference, the newspaper reported. read more »

DOJ Subpoenas Four Biggest Meatpackers in Antitrust Probe

BLOOMBERG

The Justice Department is formally demanding information from the country’s four biggest meatpackers over potential antitrust violations, according to a person familiar with the matter, deepening scrutiny of an industry that’s been riled by shutdowns due to the coronavirus.

The department’s antitrust division sent civil investigative demands, which are akin to subpoenas, to the companies and is talking with state attorneys general about the probe after a group of states called for an investigation. read more »

$54 Million Compound Pharmacy Kickback Scheme

DOJ

Four Florida men were charged in an indictment unsealed Thursday for their alleged participation in a compound pharmacy kickback scheme.

The allegations stem from the defendants’ participation in a multi-million dollar conspiracy to defraud TRICARE, a federal health care benefit program.  TRICARE is the health care benefit program of the U.S. Department of Defense that provides health care coverage for active duty service members. read more »