Qui Tam / SEC Whistleblower Cases
Private Citizens are encouraged by the government to uncover illegal activities, including tax evasion and health care fraud, by receiving large compensation – between 15 and 30% of the government's recovery. When citizens help disclose cases of fraud against the government a whistleblower suit, also called a qui tam lawsuit, may be initiated.
Specific activities prohibited under the False Claims Act include overbilling the government for goods and services, billing for goods and services not provided or preparing false or fraudulent claims to be approved or paid by the government.
Types of fraud considered "whistleblower claims" include fraud against:
- Medicare and Medicaid
- Nursing Homes
- Defense Contractor Fraud
- Federal government Contractors
- Loans and Grants
It is important to file a whistleblower lawsuit as quickly as possible because the government uses a "first to file" rule. That is, the first person to file the suit is entitled to the reward.
The Dodd-Frank Act
The Dodd-Frank Wall Street Reform and Consumer Protection Act was enacted by President Obama in 2010 and is the most recent update in financial regulation in the United States. The Act enhances the whistleblower program originally set forth in the Sarbanes-Oxley Act and the False Claims Act, by providing awards to those with original information about a violation of federal securities laws derived from the informant's independent information or knowledge.
The Dodd-Frank Act provides additional protections for whistleblowers -- an employer may not terminate employment of a whistleblower as a retaliatory act.
The Dodd-Frank Act can be found here
And a government synopsis can be found here
If you would like to confidentially discuss a False Claims Act violation or a violation of the federal securities laws, please contact Frank R. Schirripa at 212.213.8311 or firstname.lastname@example.org