SEC awards whistleblower $28 million in Panasonic Avionics Case

The U.S. Securities and Exchange Commission said it awarded more than $28 million to a whistleblower whose tip helped them and the Justice Department launch investigations that led to bribery charges against a U.S. subsidiary of Japanese electronics company APanasonic Corp. and former executives. Lawyers representing the whistleblower said the award was connected to...
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Securities and Exchange Commission awards $22 million to two whistleblowers for revealing securities violations

The Securities and Exchange Commission today announced awards totaling approximately $22 million to two whistleblowers whose information and assistance were of crucial importance to successful SEC enforcement actions brought against a financial services firm. The first whistleblower received an award of $18 million, while the second whistleblower received a $4 million award.  The larger award...
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Growing Fortune 500 firms much more likely to commit financial fraud than smaller struggling companies major study shows

Expanding Fortune 500 firms with spiking growth are more likely to commit financial fraud than smaller companies, according to a recent study published in Justice Quarterly. Researchers from Washington State University, Pennsylvania State University, and Miami University studied more than 250 U.S. public corporations that were involved in financial securities fraud identified in Securities...
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Deutsche Bank pays $130 million to settle SEC DOJ investigation into foreign bribes and manipulation of commodities markets

  Deutsche Bank Aktiengesellschaft (Deutsche Bank or the Company) has agreed to pay more than $130 million to resolve the government’s investigation into violations of the Foreign Corrupt Practices Act (FCPA) and a separate investigation into a commodities fraud scheme. According to admissions and court documents, between 2009 and 2016, Deutsche Bank, acting through its employees...
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DOJ’s Cryptocurrency Enforcement Network to attack criminal activities as reports of fraud and theft mount

A new U.S. Justice Department report is taking aim at the “emerging threats and enforcement challenges” associated with digital currencies, establishing a “Cryptocurrency Enforcement Framework” to address the massive uptick of fraud, criminal activity and theft in the Cryptocurrency trading including BitCoin and cybercurrency platforms. The Department of Justice says that while...
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United States sues Nutter Home Loans for forging certifications and using unqualified underwriters to ok Gov insured reverse mortgages

   The United States has filed a complaint under the Financial Institutions Reform, Recovery and Enforcement Act of 1989 and the False Claims Act against Nutter Home Loans, f/k/a James B. Nutter & Co. (Nutter), for forging certifications and using unqualified underwriters to approve Federal Housing Administration (FHA) insured Home Equity Conversion Mortgages...
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