UOP LLC, doing business as Honeywell UOP, a U.S.-based subsidiary of Honeywell International Inc., has agreed to pay more than $160 million to sett;e bribery investigations by criminal and civil authorities in the United States and Brazil over bribes offered to a high-ranking official at Brazil’s...
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Securities and Exchange commission charges financial services professional and associate in $47 Million front running scheme
The Securities and Exchange Commission today announced fraud charges against Lawrence Billimek, an employee of a major asset management firm with securities portfolios worth billions of dollars, and Alan Williams, who previously worked at several financial industry firms, for perpetrating a multi-year front-running scheme that generated at least...
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Ex-JP Morgan Trader convicted of fraud in precious metals spoofing case
A federal jury convicted a former trader at JPMorgan Chase Christopher Jordan today of fraud in connection with a spoofing scheme in the gold and silver futures markets. He was an executive director and trader on JPMorgan’s precious metals desk in New York from 2006...
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Number of major cyber attacks against financial institutions spike and whistleblower reports are expected to rise as regulators tighten regulations
Cyberattacks in the financial sector have skyrocketed by all reliable data sources. According to VMware, U.S. financial institutions experienced a 238% increase in cyberattacks within the first six months of 2020 and the rate of such attacks has continued to increase through 2021 and into 2022. Financial institutions are being attacked...
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Cyberattacks- when must publicly traded companies report them to the Securities and Exchange Commission and other agencies?
The SEC and other agencies are concerned about the significant increase in Cyberattacks on financial companies, banks, critical infrastructure companies and others as these attacks from nationstates threaten the security of the United States. In August of last year, the SEC filed a settlement enforcement action against Pearson plc, a London-based public...
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U.S. Securities and Exchange Commission issues investor alert to identify theft and data breaches to your investment accounts due to significant spikes in cybercrime
The United States Securities and Exchange Commission Office of Investor Education has recommended that all investors check their accounts to determine whether financial information or assets have been stolen. This is because the amount of cyrber attacks and cyber penetration has increased substantially in the past...
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Neurological injury compensation plan and association to pay $51 Million to resolve False Claims Act allegations
The Florida Birth-Related Neurological Injury Compensation Plan and its administrator, the Florida Birth-Related Neurological Injury Compensation Association (collectively, “NICA”), have agreed to pay $51 million to resolve allegations that they violated the False Claims Act by causing NICA participants to submit their healthcare claims to Medicaid rather...
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Newman & Shapiro Announces $3.25 Million False Claims Act Customs Fraud Settlement with Importer RGE Motor Direct Inc.
We’re pleased to announce that RGE Motor Direct Inc. (RGE), a California-based importer and reseller of Chinese furniture and other merchandise, has agreed to pay $3.25 million to resolve customs fraud allegations arising from a False Claims Act qui tam lawsuit Newman & Shapiro filed in June 2021 on behalf...
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Chiropractor to pay over $15 million for billing Medicare for electro-acupuncture device and government is pursuing similar cases in various states
A scheme of fraudulent billing has been revealed concerning a chiropractor in Kansas, Timothy Warren and his company Titan. Warren promoted himself to medical providers as a medical reimbursement consultant and said his company was a compliance consulting firm. This case is just...
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In latest EHR False Claims Act Settlement, Modernizing Medicine Agrees to Pay $45 Million
After losing a motion to compel production of a key document, the U.S. Attorney’s Office in Vermont nevertheless has managed to notch another large False Claims Act settlement with an electronic health record (“EHR”) company. On November 1, 2022, that office announced that Modernizing Medicine, Inc. (“ModMed”), a...
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