Florida telecomm and CEO pay $128M for alleged scheme to defraud FCC
A Florida wireless company and its CEO will pay more than $128 million to settle civil and criminal allegations that they defrauded a federal low-income telecommunications program, according to the Department of Justice (DOJ).
Q Link Wireless LLC and owner Issa Asad, of Dania Beach, Florida, allegedly devised a scheme to defraud the Lifeline Program, a nearly $2 billion Federal Communications Commission (FCC) program that helps people with low incomes with their cell phone bills.
Consumers must meet income and cell phone usage requirements to participate. Telecommunication companies must verify that customers meet the program qualifications before seeking reimbursement from the federal government for the discounts they provided.
Related articles
-
ArticleNew York lab CEO allegedly billed insurers for $500M in fraudulent COVID test claims
The U.S. Department of Justice says the chief executive and medical director of Fast Lab Technologies allegedly engaged in a $500 million fraud scheme involving COVID-19 tests.
-
News BriefU.S. regulators scrutinizing American companies’ transactions with Chinese firms
Recent enforcement actions by U.S. agencies overseeing customs payments and export control laws indicate increased scrutiny of business transactions between U.S. and Chinese companies.
-
ArticleDAG Blanche says DOJ’s new priorities doesn’t indicate pullback on white collar crime
The Department of Justice has refocused its white collar crime priorities on prosecuting the worst cases of corporate misconduct while also clearing away unnecessary and burdensome regulation that could “strangle” American business, Deputy Attorney General Todd Blanche said.
More from Regulatory Enforcement
-
ArticleCFTC clears deck of ‘compliance’ enforcement actions to focus on fraud
BNY, Citigroup, Santander, UBS, and two other financial institutions paid a total of $8.3M to settle separate compliance violations with the CFTC.
-
News BriefHong Kong securities regulator hits repeat offender Deutsche Bank with $3M fine
Deutsche Bank has agreed to pay a $3 million fine and has returned $5 million in fee overcharges to customers as part of a resolution with Hong Kong’s financial services regulator.
-
News BriefDOJ, SEC charge owner of Pennsylvania companies of running $770M Ponzi scheme
The majority owner of a Pennsylvania investment firm faces 100 years of prison time and huge fines for allegedly running a $770 million Ponzi scheme centered on an ATM company he also owned.