The Whistleblower Institute announces that Department of Justice obtained over $4.7 billion in settlements and judgments from civil cases involving fraud and false claims in fiscal year 2016.
Those who have a similar case or experienced a similar situation or any other wrongdoing within a corporation have certain options and should contact the Whistleblower Institute at mail@whistleblowerinstitute.com or call: 619-452–1218. There are no costs or obligations to you.
Department of Justice reportedly obtained over $4.7 billion in settlements and judgments from civil cases involving fraud and false claims in fiscal year 2016.
This is the third highest annual recovery in False Claims Act history, bringing the fiscal year average to almost $4 billion since fiscal year 2009, and the total recovery during that period to $31.3 billion.
Of that $4.7 billion recovered, $2.5 billion came from the healthcare industry, including drug companies, medical device companies, hospitals, nursing homes, laboratories, and physicians. The biggest recoveries came from drug companies.
The largest recoveries this past year, $1.2 billion, came from the drug and medical device industry. Notable settlements included Wyeth and Pfizer Inc at $784.6 million and Novartis Pharmaceuticals Corp at $390 million.
According to the Department of Justice, hospitals and outpatient clinics came in second in the amount of dollars recovered at $360 million. Included was Tenant Healthcare, which paid $244.2 million to settle claims.
Since 2009, the government has recovered $19.3 billion in healthcare fraud cases.
Another large recovery came from the financial industry in the wake of the housing and mortgage fraud crisis. Settlements and judgments in cases alleging false claims in connection with federally insured residential mortgages totaled nearly $1.7 billion in fiscal year 2016.
Whistleblowers filed 702 suits in fiscal year 2016, and the Department recovered $2.9 billion in these and earlier filed suits this past year. The government awarded the whistleblowers $519 million during the same period.
The Department of Justice is a federal executive department of the U.S. government, responsible for the enforcement of the law and administration of justice in the United States.
The Whistleblower Institute is an information portal for current or former employees and other people having insight information about wrongdoing and other illegal activities by individuals either individually or within corporations, through company culture and or within international affairs. Whistleblowers should keep in mind that under the Dodd-Frank Act any person who provides the Securities and Exchange Commission (“SEC”) with original information that leads to a successful enforcement action with over $1 million recovered must be awarded between 10%-30% of the total amount recovered. In order to determine the total amount of the reward there are numerous factors that need to be considered. Whistleblower actions are complex and our goal is to guide any whistleblower every step of the way. The Whistleblower Institute is dedicated to partnering with any individual who have information about fraud and we work with many of the best law firms worldwide.
Those who have a similar case or experienced a similar situation or any other wrongdoing within a corporation have certain options and should contact the Whistleblower Institute.
Contact:
Whistleblower Institute
2534 State Street – Suite 406
San Diego, CA 92101, USA
Phone: +1 (619) 452–1218
Facsimile: +1 (619) 785 – 3185
Email: mail@whistleblowerinstitute.com
Leave Your Comments