Tax Informant Dodged Prison, Now Seeks $22 Million Reward

A man caught in a money-laundering sting who later helped the U.S. prosecute a foreign business is now looking for millions from the government as a reward. The Internal Revenue Service earlier denied the claim, but this week the U.S. Tax Court ruled in favor of the informant. According to Accounting Today: The court’s opinion doesn’t identify the […]

Endoscope-Maker Olympus Expects to Settle U.S. Claims Over Marketing

Olympus Corp., a manufacturer of endoscopes, has set aside nearly $450 million for a possible settlement of a federal investigation into its marketing of medical products. The company did not disclose any further details except to say that the focus is on possible infractions that prohibit companies from paying kickbacks to doctors. According to the […]

Global Banks to Pay $5.6 Billion in Penalties

Five global banks will pay more than $5 billion in total penalties, and four of them (J.P. Morgan Chase & Co., Barclays PLC, Royal Bank of Scotland Group PLC, and Citigroup Inc.) will plead guilty to conspiring to manipulate U.S. and European currency prices. According to the Wall Street Journal: Authorities said euro dollar traders […]

UPS Agrees to Pay $25 Million Settlement to Resolve False Claims

The Department of Justice announced that Atlanta-based United Parcel Service Inc. (UPS) has agreed to pay $25 million to resolve false claims allegations. According to justice.gov: The settlement announced today resolves allegations that from 2004 to 2014, UPS engaged in practices that concealed its failure to comply with its delivery guarantees, thereby depriving federal customers […]

Long-Term Care Corp. to Pay $31.5 Million to Settle Lawsuit

The Justice Department announced that long-term care corporation PharMerica has settled with the United States for $31.5 million in a lawsuit claiming that they dispensed controlled drugs without a valid prescription and violated the False Claims Act by submitting false claims to Medicare. According to justice.gov: “Pharmacies put patients at risk when they dispense Schedule […]