News Clips & Coverage

A lawyer from a boutique Milwaukee firm recently scored part of the biggest False Claims Act settlement against the banking industry -- $16.6 billion dollars from Bank of America.
It's just another day (away from) the office for Brian Mahany. His client Shareef Abdou was one of three individual whistle blowers, who along with a mortgage company, split some $170 million in awards paid to them as the whistle blowers that started the massive fraud case against the banking giant.
Under...

Bank of America Corp (NYSE:BAC) has definitely let itself open to further barbs as whistleblowers call the shots. The investment bank doled out nearly $170 million to three people, and one firm who helped bring to the public domain financial misdeeds of the bank. One firm will also receive part of the dole out.
The amount is believed to be one of the highest in the U.S. history.
The first whistleblower is Shareef Abdou, who worked at Countrywide Home Loans that Bank of Amercia took...

Last August, Bank of America agreed to pay out nearly $17 billion to settle sixteen lawsuits over making and marketing fraudulent mortgages leading up to the start of the Great Recession, setting a record in the process. But the details, under the False Claims Act, remained sealed until last week. The big news, according to the Wall Street Journal, was just how much four whistleblowers were getting: $170 million plus.
Even after the IRS and lawyers get their share, those four will enjoy a...

Last August, Bank of America agreed to pay out nearly $17 billion to settle sixteen lawsuits over making and marketing fraudulent mortgages leading up to the start of the Great Recession, setting a record in the process. But the details, under the False Claims Act, remained sealed until last week. The big news, according to the Wall Street Journal, was just how much four whistleblowers were getting: $170 million plus.
Even after the IRS and lawyers get their share, those four will enjoy a...

Being a whistleblower can be a lucrative retirement plan. Especially if you work in sensitive roles at selective financial services companies.
In one 2008 mortgage-related Bank of America court case, in which prosecutors commanded a $16.65 billion fine in exchange for not pressing criminal charges, payments to internal whistleblowers are approaching $170 million, a New York Times Dealbook article by Matthew Goldstein notes.
Whistleblowers collecting just over 16% of the total...

Under the Whistleblower Act — also known as the False Claims Act, or FCA — the details behind 16 lawsuits involving the Bank of America, and that bank's settlement for nearly $17 billion in August of this year, were kept secret, until Thursday, December 18, when they were “unsealed.” Whistleblowers involved in exposing the frauds by the bank and its Countrywide Financial subsidiary will share more than $170 million, dwarfing other whistleblowers’ payouts, and...

There is a new winner in the biggest bank settlement to come out of the financial crisis: whistleblowers.
Four whistleblowers will collect a total of more than $170 million for helping investigators get a record $16.65 billion penalty against Bank of America Corp., among the biggest such payouts to tipsters in history.
The payments, to three individuals and a small New Jersey mortgage company, are in exchange for the whistleblowers' cooperation in a probe into Bank of America's...

There is a new winner in the biggest bank settlement to come out of the financial crisis: whistleblowers.
Four whistleblowers will collect a total of more than $170 million for helping investigators get a record $16.65 billion penalty against Bank of America Corp., among the biggest such payouts to tipsters in history.
The payments, to three individuals and a small New Jersey mortgage company, are in exchange for the whistleblowers' cooperation in a probe into Bank of America's...

The total payouts to whistle-blowers in the federal government’s $16.65 billion settlement with Bank of America over its mortgage business may approach $170 million.
Edward O’Donnell, a former executive at Countrywide Financial, and Robert Madsen, a former property appraiser for the bank already have been identified as two of the whistle-blowers that federal prosecutors gave credit to in the settlement agreement with Bank of America.
The other two whistle-blowers...

Whistleblower Claims & Fraud Recovery Lawyer: Brian Mahany Brian Mahany's evolution from New Orleans street cop to America's newest Billion Dollar Lawyer is a 20 year tale of justice achieved for real people against the super powerful. He chronicles his string of David v Goliath wins in Saints, Sinners & Heroes: Covert Ops in the War Against the C-Suite Mafia.
Brian Mahany Whistleblower Lawyer Interview Staff: You have enjoyed several billion dollar whistleblower cases including...