By Kyle Brasseur2024-01-22T16:00:00
Oil and gas company Hilcorp San Juan agreed to pay $34.6 million as part of a settlement with the Department of Justice (DOJ) addressing allegations of False Claims Act violations regarding underpaid royalties on oil and natural gas produced from federal lands.
The settlement, announced Friday, resulted from a U.S. investigation into certain of Hilcorp’s leases in the San Juan Basin in northwest New Mexico and southwest Colorado and their associated royalty payments.
From August 2017 through December 2018, Hilcorp paid federal royalties on oil, natural gas, and natural gas liquids for its leases based on estimated volumes and prices instead of actual volumes and prices, the DOJ alleged. When estimated payments are made, the law requires actual payments be made the following month.
2024-02-23T14:05:00Z By Kyle Brasseur
The announcement of a record year in several areas of False Claims Act enforcement at the Department of Justice was accompanied by a warning that more significant cases are coming, particularly regarding cybersecurity-related claims.
2024-01-18T18:41:00Z By Kyle Brasseur
An opinion in a long-running court case involving software company Gen Digital and alleged violations of the False Claims Act saw proposed costs in the matter jump from $1.3 million to approximately $53 million following successful arguments by the U.S. government.
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Aerospace giant Boeing agreed to pay $8.1 million as part of a settlement with the Department of Justice addressing allegations it submitted false claims regarding military aircraft contracts it had with the Navy.
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Even though the U.S. federal government is currently shut down, the U.S. Securities and Exchange Commission appears to still be at work. The financial regulator is reportedly investigating a major insurance and asset management company over its accounting practices.
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Europe’s massive financial sector has become a magnet for illicit money flowing through its banks and markets. A new EU agency will be taking the problem head-on to fight against money laundering.
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Charlie Javice, a former CEO who duped JPMorgan Chase into purchasing her start up company for $175 million, has been ordered to forfeit more than $22 million by the Department of Justice (DOJ) and to spend 7 years in jail.
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