Tagged: fraud

17 Nov, 2024

Episode 345 — Raytheon Settles for $950 Million for Fraud, FCPA, ITAR and False Claims Act Violations

Raytheon Company (Raytheon) — a subsidiary of defense contractor, RTX (formerly known as Raytheon Technologies Corporation) — agreed to pay over $950 million to resolve the Justice Department’s investigations into: (i) a major government fraud scheme involving defective pricing on certain government contracts; (ii) violations of the Foreign Corrupt Practices Act (FCPA); and (iii) the Arms Export Control Act (AECA) and its implementing regulations, the International Traffic...

Raytheon Reaches Comprehensive Settlement with Justice Department and Pays $950 Million to Resolve False Claims Act, FCPA and ITAR Violations (Part I of IV)

General

28 Oct, 2024

Raytheon Reaches Comprehensive Settlement with Justice Department and Pays $950 Million to Resolve False Claims Act, FCPA and ITAR Violations (Part I of IV)

SEC Suffers Major Blow in Securities Fraud Case Against SolarWinds

General

22 Jul, 2024

SEC Suffers Major Blow in Securities Fraud Case Against SolarWinds

A New Your federal district judge handed down a significant decision dismissing much of the SEC’s securities fraud enforcement action against SolarWinds arising from its claims relating to SolarWinds’ cybersecurity policies, and disclosure of a significant cyberattack against the SolarWinds’ network. In an unprecedented case, the SEC alleged that SolarWinds, which went public in 2018, mislead the public as to the effectiveness of its cybersecurity...

SEC and DOJ Charge SafeMoon Cryptocurrency and its Executives For Multi-Million Dollar Fraud

General

16 Nov, 2023

SEC and DOJ Charge SafeMoon Cryptocurrency and its Executives For Multi-Million Dollar Fraud

Matt Stankiewicz, Partner at The Volkov Law Group, provides a post on the latest fraud charges in the cryptocurrency industry, brought against SafeMoon. Matt can be reached at [email protected]. On November 1, 2023, the U.S. Department of Justice (“DOJ”) and U.S. Securities and Exchange Commission (“SEC”) brought charges against cryptocurrency project SafeMoon LLC and its U.S. subsidiary SafeMoon US LLC, along with its three executives,...

U.S. Department of Justice Unseals Indictment against Celsius Network’s Alexander Mashinsky

General

31 Jul, 2023

U.S. Department of Justice Unseals Indictment against Celsius Network’s Alexander Mashinsky

On July 13, 2023, U.S. prosecutors unsealed an indictment against Alexander Mashinsky, the founder and former CEO of beleaguered Celsius Network LLC (“Celsius”) charging him with securities fraud, commodities fraud, and wire fraud. The DOJ alleges that Mashinsky defrauded customers by misleading them about Celsius’s operations, specifically related to the company’s success and profitability, along with the investments that Celsius ultimately made utilizing customer funds. ...

General

27 Jun, 2023

The Challenge of Healthcare Compliance Programs (Part I of II)

If you are a compliance officer for a healthcare provider (e.g. hospital, HMO, skilled nursing facility, hospice center), you must sometimes feel that no one understands or feels your pain. When you consider the number and extent of risks, it can be mind-boggling. I am sure there are times that compliance officers in the healthcare industry look wistfully or even with envy at a compliance...

Rockwell Automation Executives Arrested for Fraudulent Scheme

General

10 Nov, 2021

Rockwell Automation Executives Arrested for Fraudulent Scheme

Little problems can become big ones. A failure to respond to a risk – whether it is a conflict of interest violation or a weakness in internal controls – can become even more significant depending on the size and scope of the problem. A recent criminal prosecution of two Rockwell Automation executives underscored the nature of this phenomena. Last month, federal prosecutors arrested and charged...

Episode 212: DOJ Returns Indictment Against Former Boeing Chief Technical Pilot in 737 MAX Safety Scandal

Podcasts

31 Oct, 2021

Episode 212: DOJ Returns Indictment Against Former Boeing Chief Technical Pilot in 737 MAX Safety Scandal

The Justice Department announced the indictment of Mark Forkner, a former Chief Technical Pilot for Boeing for his role in the 737 MAX scandal. Specifically, Forkner is charged with deceiving the FAA’s Aircraft Evaluation Group (“FAA AEG”) relating to Boeing’s 737 MAX airplane and defrauding Boeings U.S.-based airline customers to earn millions of dollars for Boeing. Boeing’s 737 MAX scandal is tragic and disturbing. In January...

Contech Engineered Pleads Guilty and Agrees to Pay $8.5 Million for Bid-Rigging and Fraud

General

16 Jun, 2021

Contech Engineered Pleads Guilty and Agrees to Pay $8.5 Million for Bid-Rigging and Fraud

The Antitrust Division has pushed bid-rigging and price-fixing prosecutions of government contractors. It is long overdue – fraud enforcement has uncovered a number of bid-rigging and price-fixing schemes among government contractors. To focus on this enforcement priority, DOJ created the Procurement Collusion Strike Force, which was initiated in November 2019, and consists of a multi-agency task force designed to uncover antitrust price-fixing schemes. The case...

Steve Bannon and Three Defendants Indicted for $25 Million “We Build The Wall” Fraud Scheme

General

24 Aug, 2020

Steve Bannon and Three Defendants Indicted for $25 Million “We Build The Wall” Fraud Scheme

In a surprise indictment, the US Attorney’s Office for the Southern District of New York announced that Steve Bannon, Brian Kolfage, Andrew Badolato and Timothy Shea were indicted for defrauding hundreds of thousands of donors in response to the “We Build The Wall” online fundraising campaign. The indictment charges the defendants in defrauding donors from more than $25 million. As charged, the defendants defrauded hundreds...

Tagged: fraud

Episode 345 — Raytheon Settles for $950 Million for Fraud, FCPA, ITAR and False Claims Act Violations

Raytheon Reaches Comprehensive Settlement with Justice Department and Pays $950 Million to Resolve False Claims Act, FCPA and ITAR Violations (Part I of IV)

SEC Suffers Major Blow in Securities Fraud Case Against SolarWinds

SEC and DOJ Charge SafeMoon Cryptocurrency and its Executives For Multi-Million Dollar Fraud

U.S. Department of Justice Unseals Indictment against Celsius Network’s Alexander Mashinsky

The Challenge of Healthcare Compliance Programs (Part I of II)

Rockwell Automation Executives Arrested for Fraudulent Scheme

Episode 212: DOJ Returns Indictment Against Former Boeing Chief Technical Pilot in 737 MAX Safety Scandal

Contech Engineered Pleads Guilty and Agrees to Pay $8.5 Million for Bid-Rigging and Fraud

Steve Bannon and Three Defendants Indicted for $25 Million “We Build The Wall” Fraud Scheme

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