The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued an alert to financial institutions across the country, urging them to enhance efforts in identifying and reporting suspicious activity linked to Hizballah. This alert comes as part of a broader campaign by the Treasury Department to combat terrorist [...]
Raytheon Company (Raytheon), a subsidiary of RTX (formerly Raytheon Technologies Corporation), has agreed to pay over $950 million to settle civil and criminal cases stemming from multiple federal investigations, including $428 million to settle claims brought by a whistleblower under the False Claims Act (FCA). The government alleged that Raytheon [...]
Legal and Regulatory Developments SPOTLIGHT: Australia’s Pesky Fee for Debit Card Purchases May Be About to Disappear. What Happens Next? The Guardian – October 15, 2024 It might be chump change when it comes to buying a coffee, but the surcharge on debit purchases adds up to billions of dollars [...]
A Houston, Texas man, Mohamad Mokbel (59-years old), was convicted on Tuesday for orchestrating a complex fraud scheme that stole more than $160 million from Medicare by billing for unnecessary medications, the DOJ reported. A federal jury found Mokbel guilty on all 15 charges, including healthcare fraud, mail fraud, money [...]
Last week the DOJ announced that Teva Pharmaceuticals USA Inc. (Teva USA) and Teva Neuroscience Inc. have agreed to pay $450 million to resolve allegations that they violated the Anti-Kickback Statute (AKS) and the False Claims Act (FCA). The settlement addresses two distinct schemes related to illegal payments and price fixing, representing one of the largest settlements of [...]
Last Thursday (October 10), the Department of Justice (DOJ) announced that TD Bank pleaded guilty and agreed to pay roughly $1.8 billion in penalties to resolve DOJ charges of money laundering and other violations of the Bank Secrecy Act (BSA). This is on top of the roughly $1.3 billion the [...]
At first glance, The Center for Health & Wellbeing seemed like a sanctuary for those seeking alternative treatments beyond conventional medicine. Patients sought a holistic approach to their wellness and received IV infusions, hormone therapies, and acupuncture all under the care of licensed physicians, nurse practitioners, naturopathic doctors, chiropractors, acupuncturists, [...]
Yesterday (October 10), the Securities and Exchange Commission (SEC) announced a $12 million award to be shared among three whistleblowers “who provided critical information and assistance in an SEC enforcement action.” The award follows a string of large whistleblower awards in July — August: August 26 ($24 million); August 23 [...]
Legal and Regulatory Developments SPOTLIGHT: Visa Expected to Temper Competitive Moves After DOJ Action Payments Dive – October 3, 2024 Visa’s retail clients and fintech competitors may find their market positions strengthened in the wake of the federal government filing an antitrust lawsuit against the card network last week, industry [...]
A federal grand jury recently indicted eight individuals in connection with an alleged $68 million Medicaid fraud schemeinvolving two adult social day care centers and a home health care intermediary, operating out of Brooklyn, New York. The indictment accuses the defendants of orchestrating a wide-ranging fraud that exploited essential federal [...]
