False Claims Act News
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Updated 22 minutes ago
The European Commission published the members and remit of a group of experts that will examine whether banks should build internal firewalls to protect taxpayers and customers when failure of one part of a lender threatens to cascade throughout the company.
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Mattel Inc. has won dismissal of an antitrust lawsuit by MGA Entertainment Inc., the toymaker that sought $1 billion in damages alleging Mattel violated antitrust laws in a dispute over Bratz dolls.
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Citigroup Inc., which last week admitted breaking Federal Housing Administration rules and paid a fine, also violated regulations for home loans sold to Fannie Mae and Freddie Mac, according to a whistle-blower’s complaint.
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Four years after rotten mortgages helped trigger a global financial crisis, Sherry Hunt said her Citigroup Inc. quality-control team was still finding flaws in new loans that included altered tax forms, straw buyers and borrowers who listed fictitious employers.
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Rajat Gupta, the ex-Goldman Sachs Group Inc. director accused of giving inside information to fund manager Raj Rajaratnam about that company and Procter & Gamble Co., may face additional allegations he passed tips, prosecutors said.
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Fourteen hospitals in New York and six other states agreed to pay more than $12 million in total to settle allegations that they submitted false claims to Medicare, the U.S. Justice Department said.
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Six former HSH Nordbank AG executives were charged with breach of trust and accounting crimes over their role in collateralized-debt obligations that led to writedowns of 500 million euros ($647 million) in 2008.
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General Electric Co.’s health-care unit will pay more than $30 million to settle claims that a company it bought in 2004 provided false information to Medicare to pad billings for a drug used to diagnose heart disease, the U.S. Justice Department said.
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The amount the U.S. obtained in cases involving fraud against the government held steady at about $3 billion in fiscal year 2011, which ended Sept. 30.
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Rajat Gupta, the former Procter & Gamble Co. director indicted last year for insider trading, illegally tipped now-convicted hedge fund manager Raj Rajaratnam about P&G’s 2008 sale of Folgers Coffee Co. to J.M. Smucker Co., federal prosecutors said.
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