Lincare Holdings, a provider of oxygen equipment and subsidiary of Linde, agreed to pay $29 million to resolve allegations it violated the False Claims Act by fraudulently overbilling Medicare.
Jeff Dale
Posted inRegulatory Enforcement
TD Bank expecting punishment in BSA/AML probes
TD Bank disclosed in a shareholder report it is facing regulatory investigations regarding its Bank Secrecy Act/anti-money laundering compliance program.
Posted inAnti-Bribery
SEC orders 3M to pay $6.6M over FCPA violations in China
The Securities and Exchange Commission ordered 3M to pay nearly $6.6 million for alleged violations of the Foreign Corrupt Practices Act regarding hidden travel perks its foreign subsidiary made to government officials in China.
Posted inAnti-Bribery
Lawsuit: Pfizer fired, retaliated against whistleblower who raised FCPA concerns
An ex-Pfizer compliance officer is suing his former employer claiming wrongful termination and whistleblower retaliation after discovering the company allegedly paid $168 million to potentially influential government officials in China.
Posted inRegulatory Enforcement
Ex-JPMorgan precious metals traders sentenced in spoofing case
Two former precious metals traders at JPMorgan Chase were sentenced after being convicted a year ago for fraud, attempted price manipulation, and spoofing.
Posted inRegulatory Enforcement
Fintech to pay $1M in first violation of SEC’s amended marketing rule
The Securities and Exchange Commission ordered Titan Global Capital Management USA to pay more than $1 million for allegedly misleading investors with hypothetical performance metrics in its advertising.
Posted inRisk Management
Whistleblower goes above, beyond in Construction Specialties OFAC case
The impact of “see something, say something” was on display as part of Construction Specialties’ settlement with the Office of Foreign Assets Control for apparent Iran sanctions violations.
Posted inAccounting & Auditing
PCAOB fines AJ Robbins CPA, owner $150K for audit misconduct
The Public Company Accounting Oversight Board fined Colorado-based audit firm AJ Robbins CPA and its founding partner a total of $150,000 for alleged professional skepticism failures and improperly altering audit documentation.
Posted inAccounting & Auditing
FRC fines Mazars $92K over missed material misstatement
The U.K. Financial Reporting Council fined audit firm Mazars £72,000 (U.S. $92,000) for “wide-ranging failings” in its audit of an unnamed market traded company.
Posted inRegulatory Enforcement
Construction Specialties to pay $660K in Iran sanctions case
Construction Specialties agreed to pay more than $660,000 in a settlement with the Office of Foreign Assets Control regarding three apparent sanctions violations in Iran carried out by “rogue employees” of its Middle Eastern affiliate.