Whistleblowers and Victims of Fraud
Other Whistleblower Programs
We Assist Parties with FIRREA Whistleblower Claims Across the United States
Following the savings and loan crisis in the 1980s, the federal government enacted FIRREA – the Financial Institutions Reform, Recovery, and Enforcement Act. The goal of FIRREA is to reduce fraud in the lending industry. The Department of Justice (DOJ) can bring claims against parties that violate FIRREA, but they often have difficulty uncovering unlawful conduct. A year after FIRREA was enacted, Congress amended it to include the Financial Institutions Anti-Fraud Enforcement Act (FIAFEA), which provides whistleblowers awards up to $1.6 million for reporting violations. If you have information regarding a financial institution’s violation of FIRREA, you should contact an attorney to discuss your alternatives. At Pugsley Wood, LLP, our seasoned FIRREA/FIAFEA whistleblower attorneys can evaluate your evidence and help you to make an informed decision regarding how to proceed.
FIRREA Whistleblower Claims
FIRREA is a very broad-ranging statute and covers almost any material fraud committed by a banking institution or its employees, including record-keeping violations, mail fraud, wire fraud, underwriting violations, and a host of other bank-specific requirements.
Under FIRREA, a whistleblower files a declaration under oath with the Attorney General describing the alleged bank fraud. The declaration can include attached documents and witness information to support the claims. As with other whistleblower causes of action, the declarant here must be the original source of the information. The FIRREA/FIAFEA scheme uniquely allows whistleblowers and attorneys to proceed on their own in court under certain circumstances.
Speak to a Trusted Whistleblower Attorney Regarding Your Case
The trusted whistleblower lawyers of Pugsley Wood are among the few attorneys with real experience in navigating the requirements of FIRREA/FIAFEA, having obtained such awards on behalf of multiple clients. We have the skills, knowledge, and resources needed to help you seek the largest reward possible while protecting your rights. We represent parties in FIRREA/FIAFEA whistleblower claims and cases across the United States. You can reach us by calling (855) 550-8300 or using our online form to schedule a confidential and free consultation.
Department of Transportation Whistleblower Program
One of the newest federal whistleblower programs rewards employees or contractors of a motor vehicle manufacturer, part supplier, or dealership who bring forward original information about safety defects. The National Highway Traffic and Safety Administration’s program is modelled on the SEC’s successful program and provides awards of between ten and thirty percent of amounts recovered based on a whistleblower’s submission of original information. As with other whistleblower programs, regulators must recover a minimum of $1 million before any award is paid.
The NHTSA program is new, and the Department of Transportation has yet to issue rules and regulations. It is therefore critically important that anyone with eligible information consult an experienced attorney who can provide the assistance to ensure that you maximize your chances to receive an award.
Ontario Securities Commission Whistleblower Program
The Ontario Securities Commission maintains a whistleblower award program that is similar to the SEC’s program. Whistleblowers who voluntarily submit original information to the OSC are eligible for awards up to $5 million. The Toronto Stock Exchange features over 1,000 listed companies, including many that also trade on US markets, and a market cap of over $3 trillion. If you aware that one of those companies committed or is committing securities fraud., you should retain counsel experienced in cross-border programs to work on your behalf. The OSC program is not as well developed as the SEC whistleblower program, but Pugsley Wood attorneys have nonetheless been successful in obtaining awards under the program on behalf of multiple clients.
Get in Touch
- 1 Over $100 Million in Awards Obtained
- 2 Over 75 Years of Collective Experience
- 3 Handling Cases in the U.S. and Internationally