Whistleblower Reward Laws Offer Large Financial Rewards to Individuals with Specialized Knowledge of Significant Fraud by Whistleblower Reward Lawyer Jason S. Coomer
The Federal Government and several states have several different Whistleblower Reward laws. Further, these laws offer financial rewards to whistleblowers who properly expose significant fraud. The laws are designed to expose significant fraud of over $1 million dollars.
For more information on this area of law, please review the Whistleblower Reward Lawsuit Information on this web site or please feel free to contact Whistleblower Reward Lawyer and Bounty Action Lawyer, Jason S. Coomer via e-mail message. or use our Submission Form.
Whistleblower Reward Lawsuits and Bounty Action Whistleblower Reward Lawsuits Have Resulted in Billions of Dollars in Rewards for Whistleblowers
The government uses Whistleblower Reward Laws to detect fraud and safety issues. Through Whistleblower laws, the government has already detected billions of dollars in fraud. The government has also recovered tens of billions of dollars for taxpayers. This money also saves substantial tax payer money in future prevented fraud. Some of these laws target large healthcare and defense corporations who commit fraud against the government. Other laws target financial institutions that commit investment fraud. Bounty Actions also target corrupt multinational corporations that violate the Foreign Corrupt Practices Act. It is extremely important that Whistleblowers continue to expose fraud and corruption.
Under Federal law, whistleblower recoveries are awarded through four different whistleblower recovery laws. Federal False Claims Act is the oldest of the laws and under this law the Federal Government has recovered over $30 Billion. Under this law successful whistleblowers have been awarded over $3 Billion.
These whistleblower rewards laws and related protections continue expanding. Moreover, the laws are being expanded at both state and federal levels. More specifically, many states have one or more types of whistleblower reward laws in place. There are also federal laws in place that encourage states through economic incentives to enact their own Medicaid recovery laws.
Further, on the federal level, the Federal False Claims Act (FFCA) recently amended by the Federal Enforcement and Recovery Act (FERA). The amendment expands the reach of the FFCA to include subcontractors working under a government contractor. The FFCA also expands protection for employee whistleblowers.
Bounty Actions Target Investment Fraud and Offer Additional Whistleblower Protections
With the success of the FFCA and similar state laws, the United States enacted new Bounty Action Laws. These laws expose investment fraud, commodities fraud, and securities fraud. These Bounty Action Whistleblower Reward Laws are section 21F of the Securities Exchange Act (SEC Whistleblower Bounty Actions), and section 23 of the Commodity Exchange Act (CFTC Whisteblower Bounty Actions). These laws passed in the wake of Financial Market Melt Down in 2008. These Bounty Actions were a response to massive fraud in the financial markets.
These whistleblower recovery laws encourage people with specialized knowledge of significant investment fraud to expose the fraud. The laws target securities fraud, SEC violations, commodity futures fraud, and violations of the foreign corrupt practices act. These whistleblower reward laws protect whistleblowers. Further, some of these laws protect high level whistleblowers with anonymous reporters options. In other words, whistleblowers can anonymously expose fraud and collect a reward through a lawyer.
Whistleblower Protection Laws
Whistleblower protection laws prevent an employer from retaliating against whistleblowers. The protections prevent firing or harassing whistleblowers. Further the protection laws impose significant damages on retaliating employers. This combination of protections and encourage high end professionals to expose fraud. More specifically, the laws target people with specialized knowledge and encourage reporting of hard to detect fraud.
Whistleblower Reward Lawsuits And Bounty Actions Are The Most Effective Method for Identifying and Preventing Fraud and Corruption
Whistleblower Reward Laws are the most effective method for exposing fraud. The laws encourage people with specialized information to identify and expose large scale fraud. Whether this fraud is against the government, or in financial markets, it needs to be exposed. Recent changes in these laws provide increased potential financial rewards for whistleblowers. The changes also create stronger whistleblower protections. Original information of significant fraud is required for rewards and protections. In other words, a whistleblower must have original first hand knowledge of significant fraud. By offering large financial awards and economic incentives to persons with knowledge of fraud and corruption, the Federal Government has collected tens of billions of dollars from fraudulent corporations. The government has also paid billions of dollars in whistleblower rewards and bounties.
The strong public policy behind creating a financial reward for whistleblowers is efficiency. More specifically, the government is significantly less likely to detect fraud, than persons in certain positions with specialized knowledge of health care fraud, Medicare fraud, Medicaid fraud, government contractor fraud, securities fraud, defense contractor fraud, investment fraud, foreign business fraud, tax fraud, or other forms of government fraud that have been committed. Congress has made it clear that creating these financial incentives is beneficial for the government. Further, it is beneficial for taxpayers and the realtor. It is also the most efficient method of regulating government, preventing fraud, and identifying fraudulent schemes.
Whistleblower Reward Laws Encourage Fraud Detection
The qui tam whistleblower reward provisions of the False Claims Act detect fraud against the United States government. Similarly, the IRS whistleblower reward program detects tax fraud. Likewise, SEC whistleblower reward and CFTC reward bounty actions detect fraud in our financial markets. All these laws supplement government regulation and enforcement by encouraging whistleblowers with specialized knowledge of significant fraudulent schemes against the government. Further, the laws encourage the public to blow the whistle on the fraudulent and criminal acts.
The enactment of the financial fraud whistleblower reward laws are a response to large scale fraud that almost collapsed the world financial markets. These new bounty actions work under the same premise as extremely successful qui tam whisleblower reward laws. The laws encourage private citizens with specialized knowledge of financial fraud to expose the fraud.
Whistleblower reward lawyer, Jason S. Coomer works with health care fraud whistleblowers, government contractor and procurement fraud whistleblowers, securities and investment fraud whistleblowers, and FCPA whistleblowers to expose corrupt practices and claim whistleblower rewards. If you are a person with special knowledge of significant fraud and corrupt practices, please feel free to contact Whistleblower Reward Lawyer, Jason S. Coomer via e-mail message. or use our Submission Form.
Whistleblower Reward Lawyers and Bounty Action Lawyers Work with Whistleblowers Throughout the United States and Around the World to Expose Fraud and Corruption
If you are aware of a large government contractor that is defrauding the United States Government out of millions or billions of dollars, contact please feel free to contact Whistleblower Reward Lawyer and Bounty Action Whistleblower Reward Lawyer Jason S. Coomer via e-mail message. As a Whistleblower Reward Lawyer and Bounty Action Lawyer, he works with other powerful whistleblower reward lawyers throughout the United States and the World to expose large government fraud and corruptions cases.