Due Diligence - Posts from November 2016

  • Tesco Bank Cyberhacking State Sponsored? FIRREA Post

    Tesco Bank is a well known UK bank. Created with the help of the Royal Bank of Scotland, Tesco today enjoys 7 million customer accounts. Confidence in the bank was badly shaken this week when the bank announced that thousands of accounts were the victim of a cyberhacking attack. New evidence now suggests that the incident may have been state sponsored.

    Due Diligence- 17 readers -
  • $85 Million Wasted on “Empty Shells”? Government Contractor Fraud Post

    $85 Million Wasted on “Empty Shells”? Government Contractor Fraud Post November 24, 2016 by Brian Mahany Your Tax Dollars at Work! Government Contractor “Completes” $85 Million Hotel in Afghanistan Recently I spoke with an American diplomat in Pakistan. He said much of our government spending there was being lost to fraud. When I asked about Afghanistan, he simply shook his head in dismay.

    Due Diligence- 19 readers -
  • Dr Death Declares His Innocence… from Prison! (Farid Fata MD)

    Nothing surprises us anymore. The biggest threat to this country and we taxpayers isn’t ISIS, it isn’t terrorism, it isn’t even politicians. It is fraud. It’s occurring at record levels and much of it is brazen. This post, however, even caught me off guard. Dr Farid Fata was labeled the Dr. Death and the Butcher of Detroit. Those aren’t our nicknames.

    Due Diligence- 14 readers -
  • Lawyer, Flop House Operators Charged with Medicaid Fraud

    NY Attorney Anthony Cornachio Charged with Medicaid Fraud (photo from NY Attorney General’s Office) Don’t think that people charged with Medicaid fraud only wear white lab coats. Home health aides, billing specialists, pharmacies, hospitals, third party billing companies, patient recruiters and yes, lawyers have all been charged with Medicaid fraud.

    Due Diligence- 32 readers -
  • Whistleblowers Opportunity! Samsung Influence Peddling Scandal

    Whistleblowers Opportunity! Samsung Influence Peddling Scandal November 24, 2016 by Brian Mahany Earlier this week there was a small story buried deep inside the Wall Street Journal indicating that South Korean prosecutors had raided Samsung’s headquarters in the city of Jeonju. There has been no official word about why authorities are searching multiple offices of a huge m ...

    Due Diligence- 15 readers -
  • Bank of America Accused of Gouging Ex Inmates – FIRREA SEC Post

    There are both evil people in this world and ordinary people who make mistakes. Sometimes those people go to jail. Over 99% of those incarcerated are ultimately released. And in Arizona, when they are released they get whatever cash they had at the time of their arrest, commissary money and prison earnings in the form of a Bank of America debit card.

    Due Diligence- 13 readers -
  • 10 FLA Assisted Living Facility Owners Charged with Medicare Fraud

    Ten individuals who own and operate assisted living facilities (ALFs) in the Miami metro area have been criminally charged with federal healthcare fraud. The Department of Justice says the men and women charged are guilty of receiving kickbacks from the owner of a pharmacy. The pharmacy owner was supplying prescription drugs and durable medical equipment to patients in the facilities.

    Due Diligence- 16 readers -
  • Lincoln Financial Unit Fined for Cybersecurity Breach

    A Lincoln Financial Group subsidiary was fined $650,000 by the Financial Industry Regulatory Authority (FINRA) for a 2012 cybersecurity breach that allowed hackers to penetrate a cloud based server and access 5,400 customer files. In addition to the fine, the financial services company also agreed to implement tougher security measures.

    Due Diligence- 26 readers -
  • Red State, Blue State – Construction Whistleblowers Can Rejoice

    While millions of Americans were glued to their televisions last night waiting to see if Hillary or Donald Trump won the presidential election, there were over $200 billion of transportation referendums on local ballots nationwide. I watched the election from my hotel room in Los Angeles where a $100 billion ballot measure passed with 70% of the vote.

    Due Diligence- 17 readers -
  • Whistleblower: United Airlines Does Shoddy Maintenance Work

    Last year, a former aviation maintenance technician for United Airlines filed a federal whistleblower lawsuit against the company and accused the airline of shoddy aircraft maintenance. Last week a federal judge in Charleston, South Carolina tossed the suit but said he would give the whistleblower thirty days to file a new complaint with better facts.

    Due Diligence- 10 readers -
  • Pharmacist Guilty in Scheme Involving Counterfeit Drugs

    Walter Beich, a 63-year-old pharmacist from Illinois, pled guilty to a Medicaid and Medicare fraud scheme involving filling prescriptions with counterfeit drugs. According to court records, Beich pled guilty to healthcare fraud and aggravated identity theft. He was facing trial on twelve charges before changing his plea.

    Due Diligence- 16 readers -
  • BREAKING NEWS: Huge Win in Allied Home Mortgage Fraud Case

    Yesterday a Houston jury awarded the government approximately $90 million in a case originally filed by us against Allied Home Mortgage. This is only the second major lender to go to trial on a False Claims Act case since the financial crisis in 2008. The jury verdict is a major win for the government and taxpayers. Our firm filed the original whistleblower complaint in May 2011.

    Due Diligence- 13 readers -
  • Accounting Today

    In the Blogs: The Season Approaches by Jeff Stimpson | Link to original source (119K) Highlights of some of our favorite tax-related blogs from the past week. Like it is TaxMama: Following “a total paradigm shift in our government,” the nuts and bolts of what Trump’s plan means for changes individuals can expect in their tax lives. Hint: “a mixed bag of goodies and sillies.

    Due Diligence- 32 readers -
  • Medicare Fraud to Murder? Man who Owed Money Murdered

    Readers of this blog know that we have long claimed that Medicare fraud is not a victimless crime. Often patients are harmed, receive substandard care or receive treatments and drugs they do not need simply so some doctor or clinic operator can bill more money to Medicare. Obviously, these schemes also hurt taxpayers. Medicare and Medicaid are funded with tax dollars. Your money and my money.

    Due Diligence- 12 readers -
  • Ship Pollution Cases Increasing, Whistleblower Awards

    Today’s Wall Street Journal carried a grim story for those in the shipping industry. According to the Journal, “none of the world’s biggest container shipping companies is likely to post a profit this year.” Some companies are going bankrupt while others are looking for partnerships and new cash infusions. Inevitably, when money is tight, some companies cut corners and dump oily waste at sea.

    Due Diligence- 9 readers -
  • Draining the Swamp – Big Biz and Lobbyists (Whistleblower Post)

    Draining the Swamp – Big Biz and Lobbyists (Whistleblower Post) November 16, 2016 by Brian Mahany We are currently locked into a huge battle with Uber. David versus Goliath. Underpaid Uber drivers against a company worth $66 billion dollars. Despite its huge size, Uber wants to be even bigger and more powerful.

    Due Diligence- 12 readers -
  • “My Family Thinks I’m a Fraud for Working at Wells” – FIRREA Post

    There was an article yesterday in CNN Money titled “Inside Wells Fargo, Workers Say the Mood is Grim.” Thats where I found the title quote above. For years, the “too big to fail” banks have been “too big to touch”. Finally, the tide is turning. Unfortunately, for many homeowners and customers of Wells Fargo, Chase, Citi, Ocwen and Bank of America, Congress’s attention is too little, too late.

    Due Diligence- 13 readers -
  • Many Bankers Eligible for Overtime Pay (FLSA Post)

    There have been several large overtime pay collective action cases in recent years involving bankers. Ever since Wells Fargo management decided to fire 5,500 bankers who were allegedly involved in the unauthorized new account scandal, our phones have been ringing steadily with call from unhappy bank employees.

    Due Diligence- 13 readers -
  • Biggest “Boondoggle” in History? Whistleblower Post

    Several geothermal power plants connected to Ormat Technologies, Inc. have agreed to pay $5.5 million to settle a fraud complaint brought under the federal False Claims Act. That law allows a whistleblower who reports fraud or wrongdoing involving federal funds or programs to receive an award for their information.

    Due Diligence- 21 readers -
  • Customs Duties and Tariffs Whistleblower Claims to Soar under Trump

    The jury is out on President -elect Trump. As I write this, the whistleblower bar is in turmoil. Will Trump support big pharma’s efforts to gut the False Claims Act? Will he repeal Dodd Frank (the law that brought us the SEC Whistleblower Program)? His transition team says that he will. Unions, small businesses, minority groups, veterans… everyone is wondering what the next ad ...

    Due Diligence- 12 readers -
  • Brian Mahany Discusses Election And What It Means to Whistleblowers

    No sooner were the election results tabulated when we received calls from two whistleblower clients, both anxious about how a Trump presidency effects their case and whistleblowers generally. Both have a right to be concerned but there isn’t much to report yet. Here is what we know. Dodd Frank and the SEC Whistleblower Program The Dodd Frank Wall Street Reform and Consumer Prot ...

    Due Diligence- 18 readers -

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