Walgreens has agreed to pay $360 million to insurance company Humana to settle a lawsuit claiming that the retail pharmacy chain overcharged for prescription drug reimbursements. In 2019, Humana brought a lawsuit against Walgreens arguing that the company had overcharged its customers by inflating medication prices for over ten years. Read More
A Los Angeles jury convicted two corporate executives on November 16 of conspiracy and failure to report information related to defective residential dehumidifiers that had been linked to multiple fires. Simon Chu, 68, of Chino Hills, California, and Charley Loh, 65, of Arcadia, California, were convicted of conspiracy to defraud Read More
Just as in any other industry, the financial industry has its fair share of questionable behavior, and then some. For this reason, an alphabet soup of regulatory oversight — and accompanying fines for non-compliance, violations, and even fraud — exist to keep financial institutions in line. Regulatory bodies like the Read More
The Consumer Financial Protection Bureau (CFPB) has ordered OneMain Financial to pay a total of $20 million in consumer redress and penalties for failing to refund interest charged to tens of thousands of consumers, the CFPB announced. Failures include deceitful sales tactics and a fraudulent refund policy. Unethical sales tactics, Read More
The Department of Justice announced the arrest of a convicted felon and disbarred attorney for his alleged involvement in a multi-million-dollar fraud scheme. According to the allegations in the complaint, from its formation around late 2015 until in or about July 2020, Dominion Bank and Trust Company operated as a Read More
A global measure of corruption is sounding the alarm that not only is the level of bribery and corruption not improving around the world it is worsening in several countries, including in such developed nations as Canada, Austria, and the United Kingdom. The 2022 Corruption Perceptions Index (CPI), released this Read More
Sam Bankman-Fried, the former chief executive and founder of cryptocurrency trading platform FTX Trading, was hit with a wave of civil and criminal enforcement charges brought by numerous agencies this week for orchestrating a scheme that some are calling a simple, but massive case of embezzlement. On Dec. 11, Bankman-Fried Read More
Lafarge, a French multinational construction conglomerate, and its now-defunct Syrian subsidiary, Lafarge Cement Syria (LCS), pleaded guilty to conspiring to provide illicit payments and resources to two U.S.-designated foreign terrorist groups: the Islamic State of Iraq and al-Sham (ISIS) and the al-Nusrah Front (ANF). These companies further admitted to negotiating Read More
Enforcement against foreign bribery on a global scale has hit an historic low, according to a report by Transparency International. In Transparency International’s report, “Exporting Corruption 2022,” 43 signatories to the OECD Anti-Bribery Convention were assessed, along with China, India, Hong Kong SAR, and Singapore. Together, the countries analyzed account Read More
The Securities and Exchange Commission has charged two insurance executives and their Malta-based registered investment adviser, Standard Advisory Services Limited, for defrauding clients out of more than $75 million through undisclosed transactions that benefited themselves and their companies. In a statement, Osman Nawaz, Chief of the Division of Enforcement’s Complex Read More
