A recent settlement acknowledges the healthcare fraud allegations made against a New York-based ophthalmologist, Dr. Sheldon Rabin, and his practice. According to a press release issued by the Eastern District of New York and U.S. Department of Health and Human Services, Rabin and his related entities have agreed to pay [...]
Legal and Regulatory Developments SPOTLIGHT: CFPB to Consult Consumers and Small Businesses on Open Banking Standards PYMNTS – June 5, 2024 In the move to solidify the framework for open banking, the field for just who will help set the standards is wide open. News came Wednesday (June 5) that [...]
In a recent case of healthcare fraud, a pharmacy owner from Fort Worth, Texas, has been sentenced to four years and four months in prison and has been ordered to pay over $59 million in restitution for his role in an alleged illegal kickback and money laundering scheme. Specifically, the [...]
“These risks [posed by Artificial Intelligence (‘AI’) technologies] range from the further entrenchment of existing inequalities, to manipulation and misinformation, to the loss of control of autonomous AI systems potentially resulting in human extinction. … So long as there is no effective government oversight of these corporations, current and former employees [...]
Yesterday, June 3, 2024, the Commodity Futures Trading Commission (CFTC) announced a $4.5 million award to a whistleblower who provided detailed information and assistance to the Division of Enforcement (DOE). Pursuant to agency practice, the DOE did not disclose the identity of the whistleblower or the associated enforcement action. The CFTC maintains strict confidentiality [...]
In a recent legal development, spinal device manufacturer Innovasis Inc. along with two of its top executives, Brent Felix and Garth Felix, have agreed to pay $12 million to resolve allegations that they violated the False Claims Act. A recent United States Department of Justice press release revealed that Innovasis [...]
Legal and Regulatory Developments SPOTLIGHT: The MPC Fires Back at Claims Merchants Won’t Pass Along CCCA Savings to Consumers Digital Transactions News – May 24, 2024 Claims by banks that merchants won’t pass along savings from the Credit Card Competition Act to consumers are grossly misleading and do not reflect [...]
This week’s Scoundrel in the Spotlight is Chang Goo Yoon, the former owner of several physical therapy clinics in the Greater Boston area. He was indicted in May 2021 and convicted in January 2024 of healthcare fraud following a seven-day jury trial. Yesterday (May 28), U.S. District Court Judge Indira Talwani sentenced [...]
The Office of the New York Attorney General (“NYAG”) recently announced that it reached a settlement worth $2 billion with cryptocurrency firms Genesis Global Capital, LLC; Genesis Asia Pacific PTE, LTD.; and Genesis Global Holdco, LLC (collectively, “Genesis”). The settlement, which the press release reports to be “the largest against [...]
This week’s Department of Justice (DOJ) Catch of the Week goes to Florida medical lab owner Daniel Hurt and his companies Fountain Health Services, Verify Health, Landmark Diagnostics, First Choice Laboratory, and Sonoran Desert Pathology Associates. Last Friday (May 24), DOJ announced their agreement to pay roughly $27 million to [...]
