The Benefits Of Blowing The Whistle

Previously, we  have informed consumers of the benefits of blowing the whistle on suspected illegal activity whether through the False Claims Act, the Internal Revenue Service, the Securities and Exchange Commission or the Commodities Future Trading Commission.

By stepping forward and exposing fraud to the light of day, whistleblowers have received awards ranging from $38 million to $104 million. In fact, since 1986, recoveries under the False Claims Act have topped $36 billion with $9 billion collected in 2012 alone.  In a successful False Claims Act case, the whistleblower is eligible for a share of the government’s recovery.  For example, Cheryl Eckard, the whistleblower in the federal government’s case against GlaxoSmithKline (“GSK”) relating to allegations that products from GSK’s manufacturing plant in Puerto Rico were dangerously adulterated, was awarded $96 million based on the government’s $750 million settlement.

However, the False Claims Act is not the only avenue through which a whistleblower can recover.  Recently, the Internal Revenue Service, the Securities and Exchange Commission and the Commodities Future Trading Commission have instituted similar whistle blowing programs.  Earlier this year, the IRS announced that it had awarded $104 million to former UBS banker Bradley Birkenfield for the information he provided relating to secret Swiss bank accounts that has resulted in the IRS recovering more than $5 billion. While there have yet to be any significant whistleblower recoveries from the Securities and Exchange Commission, since their program was launched a little more than one year ago, the Commission has received more than 3,000 reports of suspected securities fraud.  It is highly likely that in 2013 we will see one, if not multiple, large whistleblower awards from the SEC.

If you have information regarding a company which may be defrauding the government, engaged in securities fraud, or is illegally evading paying taxes, please contact us to discuss your legal rights.  By courageously stepping forward and reporting suspected fraud, there is the possibility that you will be rewarded handsomely.