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 enacted Whistleblower Reward laws. 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 is actively using Whistleblower Reward Laws to identify fraud. Through Whistleblowers, the government is detecting billions of dollars in fraud. The government has also recovered tens of billions of dollars. The government has recovered from fraudulent government contractors and other criminals. Some of these laws target large corporations who have committed 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 are expected to continue to expand in the future. In fact, many states have enacted their own false claims act laws. The Federal False Claims Act (FFCA) was recently amended by the Federal Enforcement and Recovery Act (FERA). The amendment expanded the reach of the FFCA to include subcontractors working under a government contractor. The FFCA also expanded protection for employee whistleblowers. States have also been encouraged through economic incentives to enact their own Medicaid recovery laws.
Bounty Actions Target Investment Fraud and Offer Additional Whistleblower Protections
With the success of the FFCA and similar state laws, the United States has enacted new Bounty Action Laws. These laws are designed to 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 were 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 are designed to encourage people with specialized knowledge of significant investment fraud to expose the fraud. Targeted fraud includes securities fraud, SEC violations, commodity futures fraud, and violations of the foreign corrupt practices act. These whistleblower reward laws were designed to protect whistleblowers. The laws have the added protection of allowing whistleblowers to anonymously expose fraud and collect a reward through a lawyer.
Whistleblower Protection Laws
Whistleblower protection laws serve to prevent an employer from engaging in retaliatory conduct. The main goal of these protections is to prevent retaliation. Combining these protections and the rewards are designed to encourage professionals to expose fraud. More specifically, to encourage people with specialized knowledge to expose 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 have been enacted to provide increased potential financial rewards for whistleblowers. The changes have also created stronger whistleblower protections. To be eligible for rewards and protections a whistleblower must have original knowledge of significant fraud. By offering large financial awards and economic incentives to persons with knowledge of fraud and corruption, the Federal Government has been able to collect 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 an financial reward for whistleblowers is the that the government would be significantly less likely to learn of the allegations of fraud, but for 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 not only for the government, taxpayers, and the realtor, but is an efficient method of regulating government to prevent fraud and fraudulent schemes.
Whistleblower Reward Laws Supplement Government Regulations by Encouraging Professionals to Expose Fraud
The central purpose of the qui tam whistleblower reward provisions of the False Claims Act as well as the IRS whistleblower reward, SEC whistleblower reward, and CFTC whistleblower reward bounty actions is to set up incentives to supplement government regulation and enforcement by encouraging whistleblowers with specialized knowledge of significant fraudulent schemes against the government and 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.