Former Comptroller of Ecuador Convicted in International Bribery and Money Laundering Scheme -
On April 24, a Miami jury convicted Carlos Ramon Polit Faggioni, the former Comptroller General of Ecuador, for his role in an...more
4/30/2024
/ Bribery ,
Conspiracies ,
Controlled Substances ,
Dark Web ,
Department of Justice (DOJ) ,
Ecuador ,
Misrepresentation ,
Money Laundering ,
Securities and Exchange Commission (SEC) ,
Securities Fraud ,
Sentencing ,
Wire Fraud
Headlines that Matter for Companies and Executives in Regulated Industries-
Canadian Man Sentenced for Operating $175 Million Psychic Mass-Mailing Fraud Scheme -
On April 15, Patrice Runner, a Canadian and French...more
Numerous regulatory jurisdictions internationally, as well as multiple nongovernmental organizations (NGOs) such as the World Bank, have increasingly used compulsory corporate monitorships as part of their respective...more
On March 7, at the annual American Bar Association (ABA) National Institute on White Collar Crime, US Deputy Attorney General (DAG) Lisa Monaco announced a new whistleblower program that will provide financial rewards to...more
3/19/2024
/ Attorney General ,
CFTC ,
Corporate Crimes ,
Corporate Governance ,
Corporate Misconduct ,
Department of Justice (DOJ) ,
FEPA ,
Foreign Corrupt Practices Act (FCPA) ,
Pilot Programs ,
Regulatory Agenda ,
Regulatory Requirements ,
Securities and Exchange Commission (SEC) ,
Whistleblower Awards ,
Whistleblower Protection Policies ,
Whistleblowers ,
White Collar Crimes
Former Healthcare Executives Convicted for Health Insurance Policy Fraud Scheme -
Steven Dorfman, the former chief executive officer and owner of the Florida-based healthcare company Simple Health, and John Sand, a former...more
2/19/2024
/ Anti-Kickback Statute ,
CARES Act ,
Coronavirus/COVID-19 ,
Criminal Conspiracy ,
False Billing ,
False Claims Act (FCA) ,
Fraud ,
Healthcare Fraud ,
Insurance Fraud ,
Mail Fraud ,
Medical Equipment ,
Medicare ,
Paycheck Protection Program (PPP) ,
Scams ,
Sentencing ,
TRICARE ,
Wire Fraud
Three Individuals Sentenced for $3.5 Million COVID-19 Relief Fraud Scheme-
On February 6, three individuals were sentenced for fraudulently obtaining and misusing Paycheck Protection Program (PPP) loans that the US Small...more
This week, SAP SE (SAP), the German-based software company, agreed to pay over $200 million to resolve investigations by the US Department of Justice (DOJ) and US Securities and Exchange Commission (SEC) into violations of...more
1/15/2024
/ Bribery ,
Clawbacks ,
Compliance ,
Corporate Counsel ,
Department of Justice (DOJ) ,
Due Diligence ,
Ethics ,
Foreign Corrupt Practices Act (FCPA) ,
Foreign Official ,
Instant Messaging Apps ,
Policies and Procedures ,
Political Contributions ,
Remediation ,
Risk Assessment ,
SAP SE ,
Securities and Exchange Commission (SEC) ,
Settlement
On December 21 President Biden signed the Foreign Extortion Prevention Act (FEPA) as part of the Fiscal Year 2024 National Defense Authorization Act. The legislation addresses a perceived gap in the Foreign Corrupt Practices...more
12/28/2023
/ Anti-Corruption ,
Bribery ,
Compliance ,
Corporate Counsel ,
Department of Justice (DOJ) ,
Due Diligence ,
FEPA ,
Foreign Corrupt Practices Act (FCPA) ,
Investigations ,
NDAA ,
Policies and Procedures ,
Risk Assessment ,
Securities and Exchange Commission (SEC)
Binance to Pay Historic $4 Billion Fine -
Binance Holdings Limited, the operator of the world’s largest cryptocurrency exchange, agreed to pay $4.3 billion to resolve allegations that it violated the Bank Secrecy Act (BSA)...more
12/4/2023
/ Anti-Kickback Statute ,
Anti-Money Laundering ,
Bank Secrecy Act ,
Compliance ,
Cryptocurrency ,
Department of Justice (DOJ) ,
False Claims Act (FCA) ,
FinCEN ,
Fines ,
Fraud ,
International Emergency Economic Powers Act (IEEPA) ,
IRS ,
Kickbacks ,
Know Your Customers ,
Medicare ,
Money Laundering ,
Money Transmitter ,
Offshore Funds ,
Tax Fraud ,
Tax Preparers ,
Willful Misconduct
Recent guidance from the US Department of Justice (DOJ) reflects its continued focus on corporate compensation structures to promote compliance. In the past few months, the DOJ has entered into settlement agreements that...more
11/15/2023
/ Anti-Corruption ,
Clawbacks ,
Compensation ,
Compliance ,
Corporate Misconduct ,
Deferred Prosecution Agreements ,
Department of Justice (DOJ) ,
Enforcement ,
Foreign Corrupt Practices Act (FCPA) ,
Incentives ,
Self-Disclosure Requirements ,
Settlement
On October 4, Deputy Attorney General Lisa O. Monaco addressed the Society of Corporate Compliance and Ethics and announced a new Department-wide Mergers & Acquisition (M&A) Safe Harbor policy. According to the new policy,...more
10/17/2023
/ Acquisitions ,
Anti-Corruption ,
Compliance ,
Corporate Misconduct ,
Department of Justice (DOJ) ,
Disclosure Requirements ,
Due Diligence ,
Foreign Corrupt Practices Act (FCPA) ,
Mergers ,
Safe Harbors ,
Self-Disclosure Requirements
Co-Founder of Fraudulent Cryptocurrency Sentenced to 20 Years in Prison -
Karl Sebastian Greenwood, a citizen of Sweden and the United Kingdom and co-founder of the cryptocurrency OneCoin, was sentenced to 20 years in...more
9/18/2023
/ Blockchain ,
Coronavirus/COVID-19 ,
Cryptocurrency ,
Department of Justice (DOJ) ,
Embezzlement ,
Fraud ,
Identity Theft ,
Misrepresentation ,
MLM Industry ,
Nonprofits ,
Sentencing
Arkansas Men Convicted in $18 Million Global Investment Fraud Conspiracy -
A federal jury in the Western District of Arkansas convicted four men of conspiracy to commit wire fraud, wire fraud, and conspiracy to commit money...more
9/11/2023
/ Compliance ,
Conspiracies ,
Criminal Convictions ,
Cybersecurity ,
Department of Justice (DOJ) ,
False Claims Act (FCA) ,
False Documentation ,
Financial Institutions ,
Fraud ,
General Services Administration (GSA) ,
Independent Investigations ,
Investment ,
IRS ,
Money Laundering ,
Penalties ,
Popular ,
Restitution ,
Settlement ,
Tax Fraud ,
Tax Returns ,
Verizon ,
Wire Fraud
$140 Million Healthcare Fraud Case to Be Retried -
On June 27, a Houston federal district court judge indicated that a $140 million healthcare fraud case, which ended in mistrial in December 2022 due to allegations of...more
Supreme Court Justices Signal Skepticism of Qui Tam Constitutionality -
On Friday, June 16, the US Supreme Court ruled that the US Department of Justice (DOJ) has the authority to dismiss qui tam suits brought under the...more
Pennsylvania Medical Supply Company Agrees to $5 Million Settlement -
A Pennsylvania medical supply company, AdaptHealth LLC, formerly known as QMES LLC, agreed to a $5.3 million settlement to resolve allegations that it...more
Anticipated Landmark Supreme Court Decision May Be Anything But On -
April 18, 2023, the US Supreme Court heard oral arguments in a set of highly anticipated cases regarding the scienter—or knowledge—provision of the False...more
4/24/2023
/ Appeals ,
Department of Justice (DOJ) ,
False Claims Act (FCA) ,
Fraud ,
Healthcare Fraud ,
Kickbacks ,
Oral Argument ,
Penalties ,
Pharmacy Benefit Manager (PBM) ,
Restitution ,
SCOTUS
DOJ Issues Corporate Self-Disclosure Policy -
The US Department of Justice (DOJ) released a Voluntary Self-Disclosure Policy that sets a consistent standard for corporate self-disclosures for all US Attorney’s Offices. The...more
2/27/2023
/ Appeals ,
Corporate Misconduct ,
Department of Justice (DOJ) ,
False Claims Act (FCA) ,
Fraud ,
Health and Welfare Plans ,
Medicaid ,
Medicare ,
NBA ,
Proposed Amendments ,
Restitution ,
SCOTUS ,
Self-Disclosure Requirements ,
Whistleblowers
Top Reasons for 2022’s Downward Trend in False Claims Act Recoveries -
Following the US Department of Justice’s (DOJ) release of statistics regarding FCA settlements and judgments for the 2022 fiscal year, Law360 spoke...more
2/20/2023
/ CARES Act ,
Coronavirus/COVID-19 ,
Department of Justice (DOJ) ,
Enforcement Actions ,
False Claims Act (FCA) ,
Fees ,
Fraud and Abuse ,
Healthcare ,
Kickbacks ,
Medicare Advantage ,
Opioid ,
Private Equity ,
Proposed Amendments ,
Qui Tam ,
Settlement ,
Stark Law ,
Telehealth ,
Whistleblowers
Pharmacy Owners Plead Guilty to COVID Fraud and Money Laundering Scheme -
Two New York men pled guilty for their alleged involvement in a complex money laundering conspiracy to launder proceeds from a fraudulent health...more
DOJ Announces $3.3 Billion Cryptocurrency Seizure and Fraud Conviction -
On Friday, November 4, James Zhong pled guilty to committing wire fraud in September 2012, when he allegedly executed a scheme to defraud “Silk...more
OIG Warns That Proposed Drug Discounts May Warrant Sanctions -
On October 5, the US Department of Health and Human Services’ Office of Inspector General (OIG) issued an advisory opinion assessing a proposal that involved...more
10/10/2022
/ Anti-Competitive ,
Anti-Kickback Statute ,
Bid Rigging ,
Bribery ,
Caltrans ,
Contractors ,
Coronavirus/COVID-19 ,
Criminal Convictions ,
Discounts ,
Drug Pricing ,
Economic Injury Disaster Loans ,
False Statements ,
Fraud and Abuse ,
Healthcare Fraud ,
IRS ,
Medicare ,
Medicare Part D ,
OIG ,
Sanctions ,
Tyson Foods ,
Wire Fraud
COVID-19 Fraud Update: DOJ Prosecutes More than 150 Defendants, 95 Criminal Cases -
Since the inception of the CARES Act, DOJ’s Fraud Section has prosecuted over 150 defendants in over 95 criminal cases. The Fraud Section...more
9/30/2022
/ CARES Act ,
Coronavirus/COVID-19 ,
Criminal Prosecution ,
Department of Justice (DOJ) ,
Economic Injury Disaster Loans ,
False Claims Act (FCA) ,
False Statements ,
Fraud ,
Genetic Testing ,
IRS ,
Kickbacks ,
Medicaid ,
Medicare ,
Paycheck Protection Program (PPP) ,
Payroll Expenses
Khadijah Chapman of Georgia, Daniel Labrum of Utah, and Eric O’Neil of Connecticut were all charged in separate indictments with submitting fraudulent Paycheck Protection Program (PPP) loan applications. According to the DOJ,...more
8/15/2022
/ Anti-Money Laundering ,
Bank Fraud ,
Bank Secrecy Act ,
BSA/AML ,
Coronavirus/COVID-19 ,
Criminal Conspiracy ,
Criminal Convictions ,
Crypto Exchanges ,
Department of Justice (DOJ) ,
Healthcare Fraud ,
Indictments ,
Paycheck Protection Program (PPP) ,
Wire Fraud
Jury Orders Eli Lilly To Pay $61 Million -
A federal jury in Illinois found that, beginning around 2004, drug manufacturer Eli Lilly deliberately underpaid rebates to Medicare programs by excluding retroactive drug prices...more
8/8/2022
/ Coronavirus/COVID-19 ,
Department of Justice (DOJ) ,
False Claims Act (FCA) ,
Falsified Documents ,
Fraud ,
Healthcare Fraud ,
Kickbacks ,
Medicaid ,
Medicare ,
Medicare Fraud ,
Paycheck Protection Program (PPP) ,
Rebates ,
SBA ,
Skilled Nursing Facility ,
Wire Fraud