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Friday, January 27, 2012

Whistleblower Reward Lawsuit Information by Medicaid Fraud Whistleblower Reward Lawyer, Medicare Fraud Whistleblower Reward Lawyer, and Bounty Action Reward Lawyer Jason Coomer

Medicaid Fraud Whistleblower Reward Lawsuit, Medicare Fraud Whistleblower Reward Lawsuit, Securities Fraud Whistleblower Reward Bounty Action Lawsuit, IRS Fraud Whistleblower Reward Lawsuit, Defense Contractor Fraud Whistleblower Reward Lawsuit, and other Whistleblower Reward Lawsuit Information by Medicaid Fraud Whistleblower Reward Lawyer, Medicare Fraud Whistleblower Reward Lawyer, and Bounty Action Reward Lawyer Jason Coomer


Whistleblower Reward Lawsuits are the most effective method for identifying and preventing large scale fraud against the government, in financial markets, and in large corporations.  New whistleblower reward laws have harnessed the power of economic incentives by offering large monetary rewards to whistleblowers that properly report significant fraud.  These whistleblower reward laws have also increased whistleblower protections to prevent and punish retaliation against whistleblowers. 

Qui Tam Actions and Bounty Actions Create Economic Incentives through  Whistleblower Recovery Law that are Extremely Effective in Exposing and Preventing Fraud Against the Government as well as other Unlawful Conduct

Offering large financial awards and economic incentives to persons with knowledge of crimes and criminals including offering whistleblower rewards and whistleblower bounties have been an extremely effective method of identifying unlawful conduct, crimes, and criminals.  When the government offers the economic reward to private citizens for exposing fraud against the government, such actions are called "qui tam actions".  In these actions, the plaintiff is suing on their own behalf as well for the government and taxpayers.

The qui tam provisions of the False Claims Act are based on the theory that one of the least expensive and most effective means of preventing frauds on taxpayers and the government is to make the perpetrators of government fraud liable to actions by private persons acting under the strong stimulus of economic benefit as well as patriotic duty, personal ill will, and/or strong personal ethics.

The strong public policy behind creating an financial reward for whistleblowers is 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 Medicare fraud, Medicaid fraud, defense contractor fraud, investment fraud, foreign business fraud, tax fraud, or significant fraud that has 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.

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 more recent enactment of the financial fraud whistleblower reward laws are 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.  By encouraging private citizens with specialized knowledge of financial fraud, the government is seeking to deter investment fraud, securities fraud, SEC violations, retirement fund fraud, corporate malfeasance, violations of the foreign corrupt practices act, and other forms of financial fraud by offering rewards or bounties to persons that properly expose this fraud.

Qui Tam Whistleblower Reward Lawsuits and Whistleblower Reward Lawsuits from Medicare Whistleblower Reward Lawyer, Medicaid Whistleblower Reward False Claims Act Lawyer, Defense Contractor Fraud Whistleblower Reward Lawyer, Whistleblower Reward SEC Bounty Action Lawyer, and Whistleblower Reward CFTC Lawyer

Under Federal law, whistleblower recoveries can come through four different whistleblower recovery laws.  The Federal False Claims Act is the oldest of the laws and under this law the Federal Government has brought in approximately $30 Billion.  Under this law successful whistleblowers have been awarded over $3 Billion and these whistleblower rewards are expected to continue to expand as many states are enacting their own false claims act laws.  The Federal False Claims Act was recently amended by the Federal Enforcement and Recovery Act (FERA) including expanding the reach of the Federal False Claims Act to include subcontractors working under a government contractor and other parties working with government contractors.  The Federal False Claims Act was also expanded protection for employee whistleblowers.   States have also been encouraged through economic incentives to enact their own Medicaid False Claims Act whistleblower recovery laws.  These state whistleblower recovery laws must be at least as strong as the Federal False Claims Act whistleblower reward laws for the state to receive the increased economic benefits from the Federal Medicaid Fraud Recovery Program.

Another Federal whistleblower recovery law is IRS Tax Fraud Whistleblower Reward Program under section 406 of the Internal Revenue CodeThis whistleblower recovery law includes significant economic incentives and protections for whistleblowers to encourage people with specialized knowledge of significant tax fraud to step forward and report the fraud.  These protections if used properly can protect whistleblowers from retaliation and allow whistleblowers to recover large amounts of money for being the first to properly report significant tax fraud.  
Two relatively new whistleblower recovery 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 and in response to massive fraud in the financial markets.  These whistleblower recovery laws are designed to encourage people with specialized knowledge of significant investment fraud, securities fraud, SEC violations, commodity futures fraud, violations of the foreign corrupt practices act, and other financial fraud.  These whistleblower reward laws were designed to protect whistleblowers that step up and blow the whistle on financial fraud.

Importantly, the Foreign Corrupt Practices Act and the new SEC Whistleblower Incentive Program work together to reward whistleblowers with original and specialized knowledge and evidence of international business corporate bribery and illegal kickbacks.  These new international business whistleblower reward laws are part of a worldwide movement to expose and punish government corruption such as contract bribes, illegal kickbacks, and large scale international fraud.  These Foreign Corrupt Practices Act should help prevent government corruption in many countries including Russia, China, Mexico, and Brazil.

All of these whistleblower recovery laws have been recently passed or strengthened to provide additional protections and economic incentives to whistleblowers.  By contacting a whistleblower reward lawyer, a whistleblower can greatly increase their ability to make a recovery under these whistleblower recovery laws and use whistleblower protections to prevent or punish retaliation for reporting fraud.    

Medicaid Fraud Whistleblower Reward Lawsuit, Medicare Fraud Whistleblower Reward Lawsuit, Securities Fraud Whistleblower Reward Bounty Action Lawsuit, IRS Fraud Whistleblower Reward Lawsuit, Defense Contractor Fraud Whistleblower Reward Lawsuit, and other Whistleblower Reward Lawsuit Information   

For more information on whistleblower reward laws, please feel free to follow the above links in this post and/or the following link: Whistleblower Reward Laws.    

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