Financial / Securities Fraud Whistleblower Claims Attorneys | Securities and Financial / Securities Fraud Whistleblower Attorneys
Financial / Securities Fraud Whistleblower Claims Attorneys | Securities Fraud Whistleblower Attorneys, Financial / Securities Fraud Whistleblower Attorneys, Dodd-Frank Wall Street Reform and Consumer Protection Act | Dodd-Frank Act | CTFC Whistleblower Program | SEC Whistleblower Program
Financial / Securities Fraud whistleblowers who report securities and Financial / Securities Fraud schemes can find monetary rewards and protection under the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) of 2010. The Dodd-Frank Act was created in wake of the mortgage fraud debacle in 2008 that sent the nation reeling into a financial tailspin. With the Dodd-Frank Act, lawmakers put in place sweeping reforms to tighten the reigns on Wall Street and provided incentives for “insiders” to come forward with information on violations of federal securities and violations of commodities exchange laws. The first violation of the Dodd-Frank Act occurred nearly two years after it took effect when the U.S. Commodity Futures Trading Commission (CFTC), accused JPMorgan Chase Bank’s London traders of manipulative trading of certain credit default swaps. The case was settled in October 2013 with JPMorgan admitting to violating the Dodd-Frank Act and paying a large penalty of $100 million.
[cftc.gov/PressRoom/PressReleases/pr6737-13, October 16, 2013]
Alonso Krangle LLP is offering free Financial / Securities Fraud Whistleblower Claims legal reviews to potential Financial / Securities Fraud Whistleblower. Our Financial / Securities Fraud Whistleblower Claims attorneys will evaluate your case CONFIDENTIALLY with you to ensure that your Whistleblower claim complies with whistleblower requirements, and will work with you as your claim progresses. To learn more, please contact our Financial / Securities Fraud Whistleblower Claims attorneys by filling out our online form or call 1-800-403-6191 today.
Notable Financial / Securities Fraud Whistleblower Cases
- July 2012 — Record-setting $3 billion settlement against GlaxoSmithKline after two whistleblowers provided the government with overwhelming evidence that GlaxoSmithKline was engaging in corrupt nationwide schemes to push sales of Advair, Wellbutrin, Imitrex and other popular prescription drugs for “off-label” (unapproved) uses.
- Sept. 2009 — A Pfizer sales representative in Florida filed a whistleblower (“qui tam”) lawsuit in 2003 which kicked off the federal and state investigations that led to Pfizer’s record-breaking $2.3 billion settlement agreement.
- Oct. 2001 – TAP Pharmaceuticals Inc. (TAP) agrees to pay the United States government $559.5 million and state governments $25.5 million to settle one of the largest civil Medicare and Medicaid fraud cases in history. TAP Pharmaceuticals also paid a $290 million criminal fine — the largest criminal fine ever paid in a healthcare fraud case. Initiated by whistleblowers the United States Department of Justice charged TAP with paying illegal kickbacks to doctors who dispensed the company’s high priced prostate cancer drug (Lupron)
- Dec. 2002 — HCA Inc., the nation’s largest for-profit healthcare provider, paid a total of $881 million settlement to the federal government to settle Medicare fraud charges, including those made by two whistleblowers who alleged in lawsuits that the company had inflated expenses for reimbursement claimed in annual Medicare “cost reports.”
Financial / Securities Fraud Whistleblower Program Under The Dodd-Frank Act
The Dodd-Frank Act created whistleblower programs for the CFTC and the Securities and Exchange Commission (SEC). The Wall Street Reform law prohibits employers from discharging, suspending, threatening, harassing or discriminating in any other manner against whistleblowers. The law also allows financial incentives because there is usually a lot at stake for individuals who come forward with information on Financial / Securities Fraud of their employers, executive officers or other top corporations.
The program calls for whistleblowers, such as financial advisors, accountants, chief operating officers and Wall Street workers to provide “original” information, which means, the information:
- comes from the whistleblower’s independent knowledge or analysis
- is not known to the government or it agencies from any other source, unless the whistleblower is the original source of the information
- does not come exclusively from allegations made in court or administrative hearings, a governmental report or from the news media
Examples of Financial / Securities Fraud in which whistleblowers can report include, but are not limited to:
- Investment fraud
- Manipulating markets
- IRS tax violations
- Derivative fraud
- Commodity exchanges and trading
- Securities fraud
- Money laundering
If the whistleblower’s information leads to a successful enforcement action that exceeds $1 million, the Dodd-Frank Act allows whistleblowers to receive a financial reward between 10 percent to 30 percent of the amount collected in a case. Since the SEC began its whistleblower program in 2011, for instance, the securities regulator has paid more than $50 million to 16 whistleblowers who provided information that led to successful enforcement actions. In April 2015, the SEC awarded a compliance officer between $1.4 million and $1.6 million for volunteering information about his company that could have caused “substantial financial harm to the company or investors.” The SEC’s largest payout occurred in September 2014, the SEC announced the payment of a “record-breaking” $30 million to an anonymous tipster who lives in another country for providing information that helped investigators in an ongoing fraud that would be otherwise difficult to detect. The SEC did not provide any further details about the case.
[sec.gov/news/pressrelease/2015-73.html, April 22, 2015]
Financial / Securities Fraud Whistleblower Attorneys
Let the Financial / Securities Fraud Whistleblower Attorneys at Alonso Krangle LLP assist you with in submitting your information to the CFTC or the SEC. Both entities have detailed procedures and requirements for submitting information and due to the large volume of tips both offices receive, improper filing of a complaint can lead to its dismissal, regardless of whether or not the information is valid. Our Financial / Securities Fraud Whistleblower Attorneys will represent you during the process and work with the government if requested, on your behalf.
Alonso Krangle LLP is offering free Financial / Securities Fraud Whistleblower Claims legal reviews to potential Financial / Security Fraud Whistleblowers. Our Financial Securities Fraud Whistleblower Claims attorneys will evaluate your case CONFIDENTIALLY with you to ensure that your Whistleblower claim complies with whistleblower requirements, and will work with you as your claim progresses. To learn more, please contact our Financial / Securities Fraud Whistleblower Claims attorneys by filling out our online form or call 1-800-403-6191 today.
About Alonso Krangle LLP And Filing A Financial / Securities Fraud Whistleblower Complaint
Andres Alonso and David Krangle, attorneys with 40 years of collective legal experience, have focused their law practice on the handling of significant personal injury cases, defective drug and medical device litigation, construction site accidents, nursing home abuse, medical negligence, qui tam/whistleblower actions and consumer fraud cases. A nationwide law firm representing injured victims throughout the U.S., Alonso Krangle LLP is headquartered in Long Island, New York, with offices in New York City, and New Jersey.
For more information about Alonso Krangle and filing a Financial / Securities Fraud Whistleblower Claim, please contact us at 1-800-403-6191 or visit our website, http://www.FightForVictims.com