According to Alameda County qui tam/false claim lawyers, 2014 was a record-breaking year for whistleblower claims filed under the False Claims and Dodd-Frank Acts. More than $6 billion was recovered by the Department of Justice through qui tam/false claims suits in 2014, up from $3.8 billion in 2013. Qui tam/false claims lawsuits allow an individual whistleblower to sue on behalf of the government, and receive part of the recovery, say Alameda County qui tam/false claim lawyers.
The financial sector was the largest source of the government’s recovery, surpassing the healthcare industry, which was the leader in previous years. According to Alameda County false claims lawyers, the financial sector will continue to be the focus of false claims suits under the Dodd-Frank Act. Most of the false claims suits filed against financial institutions in 2015 were related to false claims for federally insured mortgages and loans.
The healthcare industry continues to be a focus of qui tam/false claims suits, while Department of Defense recoveries declined this past year. It was also a record-setting year in both the number of suits filed and amount recovered before the Securities and Exchange Commission. The Securities and Exchange Commission made more whistleblower awards in 2014 than in all other years combined, including a $30 million award that was the largest the commission has made to date. Alameda County qui tam/false claim attorneys say they hope that this activity will encourage others to come forward. The Securities and Exchange Commission will continue actively pursuing whistleblower tips.
With offices located in San Francisco, Los Angeles, and Sonoma County, The Evans Law Firm, Inc. handles qui tam (whistleblower/false claims) cases. If you have a whistleblower or qui tam claim, please contact The Evans Law firm, Inc. for a free and confidential consultation at 415-441-8669 or firstname.lastname@example.org.