At times, enforcement agencies will issue a press release that announces the resolution of a case, but that also elicits more questions than answers. Sometimes the most instructive lessons for compliance, accounting, and internal audit teams can be found in what is not stated publicly.
DOJ
Posted inPharmaceuticals
Pharma company pays $46M and promises extensive compliance improvements to settle kickback charges
A drug manufacturer will pay more than $46 million and implement significant compliance program improvements to settle allegations that it offered kickbacks to doctors who prescribed its kidney drug.
Posted inAnti-Bribery
Former Goldman exec faces 30 years for bribery
A former Goldman Sachs executive director faces 30 years in prison after being convicted of paying more than $1.5 million in bribes to officials in Ghana, the U.S. Department of Justice (DOJ) announced.
Posted inTop Stories
DOJ declines to prosecute health entity per Corporate Enforcement Policy, but indicts former CEO
The Department of Justice (DOJ) has declined to prosecute a New Jersey health business for fraud, kickbacks and bribery, while indicting the chief executive on multiple counts. Campus Eye Management (CE), which ran a busy optometry practice and eye surgery center, voluntarily reported the malfeasance, fully cooperated with the DOJ and timely remediated, so it […]
Posted inRegulatory Enforcement
Hedge fund founder faces five years in prison for extensive market spoofing scheme
A California day trader and founder of a hedge fund faces up to five years in prison after pleading guilty to manipulating stock prices through buy and sell “spoofing” schemes.
Posted inPharmaceuticals
Former biopharm director heads to prison for insider trading ahead of Novartis purchase
A former director of biopharmaceutical company, Chinook Therapeutics, has been sentenced to prison for insider trading related to the company’s $3.2 billion sale to Novartis in 2023, a fraud detected through data analysis by the SEC.
Posted inSurveys & Benchmarking
ITM survey: Some organizations pull DEI programs—and some keep them—under feds’ DEI reversal, compliance officers report
Nearly four in 10 compliance teams have made it a priority to review risks related to their traditional DEI efforts and other programs in the face of the Trump administration’s unprecedented broadsides against the programs.
Posted inFinancial Services
Former California fintech board member sentenced for $248M fraud scheme that led to bankruptcy
A former board member of a California financial technology company that marketed itself as being environmentally driven was sentenced to prison for 14 years for defrauding lenders and investors of more than $248 million, according to the DOJ.
Posted inTop Stories
DOJ decision calls EEOC employment guidelines unconstitutional
Key guidelines under which the Equal Employment Opportunity Commission has operated for decades are unconstitutional, the U.S. Department of Justice Office of Legal Counsel has concluded.
Posted inBest Practices
The Tower of Babel and compliance role in AI governance
Recently,Pope Leo XIV issued his first Papal Encyclical Letter, titled Magnifica Humanitas “On Safeguarding the Human Person in the Time of Artificial Intelligence.” The document places AI within the long tradition of Catholic social teaching and asks how humanity should respond to the “new things” of the digital age. I wanted to review it from a compliance angle.