If you are thinking of blowing the whistle, contact Nashville Whistleblower attorney Timothy L. Miles for a free case evaluation.
There are several different whistleblower programs with each containing different requirements and objectives. Additionally, in some cases more than one program may be applicable. Therefore, understanding which program is applicable to a particular case is crucial to a whistleblower claim.
Read on to learn more about the different whistleblower programs and their objectives and requirements. If you are thinking about blowing the whistle, contact Nashville Whistleblower attorney Timothy L. Miles today for a free and confidential case evaluation.
THE FALSE CLAIMS ACT
When an individual or company seeks to procure unwarranted funds from the federal government, it is considered fraud and a violation of the False Claims Act (FCA). The FCA, also known as the Lincoln Law, imposes liability on individuals and companies who defraud government programs.
Fraud occurs in virtually every industry in which government contracts exist. Types of fraud include:
The FCA allows private citizens to stand in the shoes of the government and file a lawsuit on the government’s behalf in a federal district court. That lawsuit is served on the United States Attorney and remains under seal outside of the public realm while the Department of Justice and other federal and state agencies investigate the allegations. Whistleblowers or “relators” are entitled to a whistleblower award of between 15% and 30% of the government’s recovery as a reward for bringing fraud to the government’s attention, and bringing a whistleblower lawsuit. Plus, the law provides strong whistleblower protections against whistleblower retaliation which a Nashville Whistleblower attorney can explain in greater detail.
the IRS Whistleblower Program
The Internal Revenue Service’s whistleblower program allows individuals or entities with knowledge of non-payment or underpayment of taxes to come forward and provide the IRS with that information. An IRS whistleblower can receive a whistleblower award between 15% and 30% of the total recovery. Information can be provided about both companies and individuals who have not paid their fair share of taxes, as long as certain threshold requirements are met.
Claims for an award must provide specific and credible information regarding tax underpayments or violations of internal revenue laws and that lead to proceeds collected to qualify for an award. Moreover, the award percentage decreases for claims based on information obtained from public sources or if the whistleblower planned and initiated the actions that led to the noncompliance.
If you have information about a company or individual who has not paid their fair share of taxes, contact Nashville Whistleblower attorney Timothy L. Miles today for a free and confidential case evaluation.
the SEC & CFTC Whistleblower Programs
Both the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) have whistleblower programs that allow an individual to report violations of the securities and commodities trading laws and regulations. Successful whistleblowers are entitled to a whistleblower award of between 10% and 30% of any penalty imposed by these agencies.
Whistleblowers with knowledge of insider trading, violations of the Foreign Corrupt Practices Act, accounting fraud, or any other illegal or improper schemes that harm investors or violate the law, can come forward with this information to regulatory authorities on a confidential basis to file whistleblower lawsuits. The CFTC has awarded approximately $330 million to whistleblowers since issuing its first award in 2014. Moreover, on May 5, 2023 the SEC announced it had awarded the largest ever whistleblower award of nearly $279 million to a SEC whistleblower whose information and assistance led to the successful enforcement of SEC and related actions.
If you have credible information about violations of the securities and commodities trading laws and regulations, contact Nashville Whistleblower attorney Timothy L. Miles today for a free and confidential case evaluation.
The FIAFEA And FIRREA Whistleblower Program
The Financial Institutions Anti-Fraud Enforcement Act of 1990 (FIAFEA) provides rewards to confidential whistleblowers who expose fraud in the banking industry. FIAFEA was enacted by Congress a year after the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA) in order to incentivize individuals to come forward with valuable and credible information relating to FIRREA violations. FIRREA gives the U.S. Attorney General the power to bring civil actions seeking statutory penalties for violations of various criminal laws that apply to the banking industry.
Under FIAFEA’s whistleblower provisions, if the United States recovers under FIRREA based on original information brought by the whistleblower, the whistleblower is entitled to a whistleblower award of 20 percent to 30 percent of the first $1,000,000 recovered, 10 percent to 20 percent of the next $4,000,000 recovered, and 5 percent to 10 percent of the next $5,000,000 recovered, for a total potential recovery of $1.6 million.
State False Claims Acts
Currently, 31 states have false claims act statutes that provide for a whistleblower award if a state government recovers. These state statutes follow the Federal False Claims Act for whistleblower lawsuits, providing an award between 15 and 30 percent of the state’s recovery. Several states, including Tennessee and California, allow whistleblower awards of up to 50 percent of the government’s recovery in a whistleblower lawsuit.
IF YOU ARE THINKING OF BLOWING THE WHISTLE, CONTACT NASHVILLE WHISTLEBLOWER ATTORNEY TIMOTHY L. MILES TODAY
If you have knowledge of fraud against or by the federal government, contact Nashville whistleblower attorney Timothy L. Miles who can guide you through the whistleblower process and explain your whistleblower protections. The consultation is free and confidential. Just complete the form below to get started or call (855) Tim-M-Law. Ask a Nashville Whistleblower attorney, you could be entitled to a significant whistleblower award.
Please also visit our Resources center which provides a wealth of information on whistleblower lawsuits, among others.
Call today and see what a Nashville whistleblower attorney can do for you.
NASHVILLE WHISTLEBLOWER ATTORNEY TIMOTHY L. MILES
Nashville whistleblower attorney Timothy L. Miles is a nationally recognized shareholder rights attorney raised in Nashville, Tennessee. Mr. Miles was recently selected by Martindale-Hubbell® and ALM as a 2022 Top Ranked Lawyer, 2022 Top Rated Litigator. and a 2022 Elite Lawyer of the South. Mr. Miles also maintains the AV Preeminent Rating by Martindale-Hubbell®, their highest rating for both legal ability and ethics. Mr. Miles is a member of the prestigious Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association, a superb rated attorney by Avvo, a recipient of the Lifetime Achievement Award by Premier Lawyers of America (2019) and recognized as a Distinguished Lawyer, Recognizing Excellence in Securities Law, by Lawyers of Distinction (2019). Mr. Miles has published over sixty articles on various issues of the law, including class actions, whistleblower cases, products liability, civil procedure, derivative actions, corporate takeover litigation, corporate formation, mass torts, dangerous drugs, and more. Please visit our website.
Timothy L. Miles
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