The Internal Revenue Service has awarded an ex-banker $104 million for providing information about overseas tax cheats -- the largest amount ever awarded by the agency, lawyers for the whistleblower announced Tuesday.
If you have proof of financial crime -- corporate malfeasance or tax evasion, say -- you shouldn't keep it to yourself: Rewards for whistleblowers can reach as high as 15 to 30 percent of the money recovered by the government. Read on for some recent examples of richly rewarded whistleblowing, as well as tips for anyone thinking of blowing the whistle.
A former seven-year Bank of America employee alleges in a series of leaked documents that a Bank of America subsidiary, Balboa Insurance, engaged in scams involving insurance policies known as force-placed insurance.
Whistleblowing firm Ven-A-Care has recovered $2 billion for taxpayers by suing drug companies that overcharge the government and create windfalls for participating pharmacies. It also has made $380 million for itself. What's the problem with that?
Linda Almonte, a former employee of JPMorgan Chase who is suing the bank for wrongful termination, has upped the ante by filing a whistleblower complaint with the SEC. She's alleging grotesque and illegal practices with Chase credit card accounts.
A new report says Wall Street insiders who tip off authorities about securities fraud may end up with big rewards. But will the new system work as intended or just gum up the works with frivolous claims while scamsters go about their business?
The IRS has seen a surge in tax informants since a law was passed in 2006 offering a potential reward of 15% to 30% of the money collected in excess of $2 million. Delinquent taxpayers: Watch out!
Pharmaceutical companies target doctors to boost sales through such information. Since this raises the cost of patients' medications, states are aiming to limit such tactics via the courts.
