SEC Awards More Than $4 Million to Whistleblower

SEC

The Securities and Exchange Commission today announced an award of more than $4 million to a whistleblower who alerted SEC staff to certain violations, prompting the opening of an investigation.  The whistleblower then provided substantial assistance by meeting with SEC staff, identifying key players, and providing additional helpful information and documents. read more »

Navistar Defense Agrees to Pay $50 Million to Resolve False Claims Act Allegations Involving Submission of Fraudulent Sales Histories

DOJ

Navistar Defense LLC (Navistar), an Illinois based manufacturer of military vehicles and subsidiary of Navistar International LLC, has agreed to pay $50 million to resolve allegations that it fraudulently induced the U.S. Marine Corps to enter into a contract modification at inflated prices for a suspension system for armored vehicles known as Mine-Resistant Ambush Protected vehicles. read more »

SEC Charges Mutual Fund Executives with Misleading Investors Regarding Investment Risks in Funds that Suffered $1 Billion Trading Loss

SEC

The Securities and Exchange Commission today filed a civil action alleging that investment advisers LJM Funds Management Ltd. and LJM Partners Ltd. and their portfolio managers, Anthony Caine and Anish Parvataneni, fraudulently misled investors and the board of directors of a fund they advised about LJM's risk management practices and the level of risk in LJM's portfolios. The SEC separately settled related charges with LJM's Chief Risk Officer, Arjuna Ariathurai. read more »

Swiss bank Julius Baer to pay $80 million in deferred prosecution deal for FIFA soccer corruption case

CNBC

Large Swiss bank Julius Baer & Co. on Thursday received a deferred prosecution agreement from federal prosecutors and agreed to pay a criminal fine and forfeiture of about $80 million for money laundering conspiracy charges related to bribes involving the international soccer governing body FIFA. read more »