Purdue Pharma escaped serious charges over opioid in 2006, memo shows

THE GUARDIAN

A Department of Justice internal memorandum obtained by the Guardian shows that government prosecutors found evidence that executives at the drugs giant Purdue Pharma may have committed multiple crimes, including wire fraud and money laundering, to boost sales of its billion-dollar OxyContin opioid.

The document comes to light as a new claim by US states for $2.2tn for harm from the drugmaker’s alleged role in America’s opioid epidemic was disclosed on Monday as part of Purdue’s bankruptcy proceedings. read more »

Scotiabank to pay $127M in fines for traders' price fixing of precious metals

CBC

The Bank of Nova Scotia has agreed to pay more than $127 million US in fines to settle criminal investigations into a price manipulation scheme in the price of precious metals that some of its traders were engaged in.

The traders "attempted to rig precious metals futures prices in their favor by placing thousands of orders they knew they would cancel before the trades were executed," U.S. Attorney Craig Carpenito said, describing a financial practice known as "spoofing." read more »

New York Hospice Provider Settles Civil Healthcare Fraud Allegations

DOJ

Metropolitan Jewish Health System Hospice and Palliative Care (“MJHS Hospice”), a New York nonprofit hospice provider, has agreed to pay the United States $4,850,000 to resolve civil allegations that it billed Medicare and Medicaid for services rendered to hospice patients at heightened levels of care for which the patients did not qualify, in violation of the False Claims Act, and has agreed to pay the State of New York $375,000.  

The allegations were brought to the government’s attention through the filing of a complaint pursuant to the qui tam provisions of the False Claims Act.  Under the Act, private citizens can bring suit on behalf of the United States and share in any recovery.  The claims resolved by the settlement are allegations only and there has been no finding of liability by a court. read more »

Real 'Wolf of Wall Street' offers investor knowhow

BBC

This may sound like the plot of a bad Hollywood movie: A criminal stockbroker shares life lessons with newcomers just entering the business.

It's actually real life.

Jordan Belfort, the man whose rise and fall in the financial world inspired the "The Wolf of Wall Street" film, has signed up as a coach on the US investment advice website RagingBull.

The site - which itself has faced criticism over its marketing tactics - is geared toward amateur investors and has gained popularity amid a boom in amateur investing. read more »