Category: General

The Long Path to a Whistleblower Recovery: Former CCO Vindicated by Merit Medical Systems False Claims Act Settlement (Part II of II)

Dr. Charles Wolf was the Chief Compliance Officer at Merit Medical Systems, Inc. (“MMS”), who ultimately became the federal whistleblower against MMS alleging violations of the Anti-Kickback Statute.  Dr. Wolf’s concerns were ultimately vindicated when the Justice Department intervened in support of his complaint.  MMS settled the case with DOJ and agreed to pay $18 million.  Dr. Wolf received $2.65 million from the settlement under...

Merit Medical Systems Settles False Claims Act Case for $18 Million (Part I of II)

Medical device maker Merit Medical Systems (“MMS”) agreed to pay $18 million to resolve allegations that the company submitted false claims to Medicare, Medicaid and TRICARE by paying kickbacks to physicians and hospitals to induce increased use of MMS products. MMS manufactures and markets disposable medical devices used in interventional and diagnostic procedures, including cardiology, radiology, oncology, critical care and endoscopy. The anti-kickback statute prohibits...

DOJ Cryptocurrency Guidance Outlines Enforcement Partnerships (Part II of II)

DOJ Cryptocurrency Guidance Outlines Enforcement Partnerships (Part II of II)

Matt Stankiewicz continues with this two-part posting on DOJ’s cryptocurrency guidance. Matt can be reached at [email protected]. DOJ’s Cyber Digital Task Force’s report, “Cryptocurrency: An Enforcement Framework,” provides a comprehensive on the growing partnerships between DOJ and other offices within the executive branch.  We’ve seen the expansion of these partnerships in other legal areas, and the continued advancement of these relationships continues to build an impressive...

DOJ Releases Cryptocurrency Guidance and Enforcement Framework (Part I of II)

Matt Stankiewicz, Managing Counsel at The Volkov Law Group, rejoins us for another posting on cryptocurrency.  He can be reached at [email protected]. Earlier this month, the Department of Justice (“DOJ”), through its Cyber Digital Task Force (hereinafter the “Task Force”), published its 83-page crypto guidance report titled “Cryptocurrency: An Enforcement Framework.”  The Task Force, established in 2018, is tasked with evaluating threats posed by advances...

Commerce Department Restricts Licensing for Exports of National Security Items to China, Venezuela and Russia

Commerce Department Restricts Licensing for Exports of National Security Items to China, Venezuela and Russia

Janet Longo, Regulatory Compliance Manager, at the Volkov Law Group, joins us for a blog posting on the Commerce Department’s changes to export licensing policies and procedures for national security items destined to China, Russia and Venezuela.  The Volkov Law Group has extensive expertise with complicated export license applications and is happy to provide you with additional resources to assist you with your license applications...

The Fundamental Gap in Data Privacy Enforcement

We have seen a significant evolution in data privacy compliance and enforcement.  With the advances in technology, the public has become concerned about the collection, analysis and application of personal data.  For years, such concerns have been focused in the health care and financial sectors.  As the Internet and cell phone use has advanced, consumers have become alarmed as social media companies, cell phone carriers...

Stephen Naughton Joins the Volkov Law Group as Senior Counsel

The Volkov Law Group is pleased to announce that Stephen Naughton, a legal and compliance industry lawyer, has joined the Volkov Law Group as Senior Counsel. Steve recently joined Loyola University (Chicago) Law School as the Director of Regulatory Compliance Studies and a Clinical Professor. Steve will serve in a part-time role as Senior Counsel to the Volkov Law Group. Steve has more than 30...

Berkshire Hathaway Agrees to Pay $4.1 Million for Iran Sanctions Violations

Berkshire Hathaway Agrees to Pay $4.1 Million for Iran Sanctions Violations

What a year for OFAC – Amazon settled its case for OFAC violations and now add Berkshire Hathaway.  Lat year, Apple settled with OFAC for sanctions violations. Sanctions compliance is not rocket science – it requires commitment, dedication, expertise and resources.  The board and senior management have to understand the importance of sanctions compliance and execute a plan to do so. Unfortunately, it appears like...

Lessons Learned from the Goldman Sachs FCPA Enforcement Settlement (Part III of III)

Goldman Sachs has a new leadership role – unfortunately, it is for corruption.  It would be a serious mistake to characterize or describe the Goldman corruption scheme as the result of a few, bad actors.  Instead, Goldman suffered this scandal because of a culture and a weak set of controls crafted to promote business with little regard for compliance. The lessons learned from this massive...

Goldman Sachs’ Lucrative and Wide-Ranging Corrupt Scheme (Part II of III)

Goldman Sachs’ Lucrative and Wide-Ranging Corrupt Scheme (Part II of III)

Goldman Sachs now sits atop all charts with the largest US FCPA bribery penalty, totaling approximately $2.9 billion.  The second largest is Ericsson’s 2019 FCPA settlement for $1 billion.  There is a reason that Goldman “earned” this distinction.  The bribery scheme and controls and compliance failures are repugnant and pervasive.  Goldman’s corruption scheme was built on stealing funds from the 1MDB account that was intended...