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The federal government has intervened and filed a complaint under the False Claims Act against Oracle Corporation and Oracle America Inc. The government alleges that Oracle defrauded the United States on a General Services Administration (“GSA”) software contract that was in effect from 1998 to 2006 and involved hundreds of millions of dollars in sales.

Glen and Karen Kaiser, who provided information and documents leading to the imposition and collection of civil penalties in Securities and Exchange Commission v. Pequot Capital Management, Inc., et al., Civil Action No. 3:10-CV-00831-CVD (D.Ct. D. Conn., Complaint filed May 27, 2010), have been awarded $1 million by the SEC. This is the largest award paid by the SEC for information provided in connection with an insider trading case. 

There may be no law firm more than Buckley Sandler, a financial services and criminal and civil enforcement defense law firm based in Washington, D.C., that believes that white collar defense is a booming practice area that is only going to get even more important.  Now, BuckleySandler has announced that white collar defense lawyers James T. Parkinson, Joseph J. Reilly, Adam Miller, and Lauren R. Randell have joined the firm.

Here’s a federal case you don’t see every day, involving a conviction on a charge of making a materially false statement about a matter within the jurisdiction of the Postal Service, in violation of 18 U.S.C. § 1001(a)(2) – and a federal circuit court of appeals decision affirming the conviction. 

Over the past decade, the Federal Trade Commission and state enforcers have brought a combined 259 cases to stop allegedly deceptive and abusive practices by debt relief providers that have targeted consumers in financial distress. Now, the FTC has enacted a rule that contains significant new restrictions on debt relief providers. 

Joseph C. Donohue, a cattleman from Kansas, has been sentenced to six months in federal prison followed by six months of house arrest for bank fraud. He also was ordered to pay $10 million in restitution. 

Last Monday, we noted that July 16 saw the most bank failures – six – since April 30, when seven banks failed, and that 96 banks had failed this year. Well, folks, this past Friday, July 23, saw seven more failures – tied for the most of any day this year – and the number of failed banks blew by 100 since January 1; there now are 103. 

A Virginia man pleaded guilty today to one count of mail fraud for his participation in a scheme to defraud the U.S. Department of Defense. Jonathan Feeney waived his right to an indictment and pleaded guilty to a one count criminal information that charges him with using the U.S. mails to execute a scheme involving fraudulent invoices to defraud the U. S. Department of Defense.  

Federal agencies issued final rules today requiring residential mortgage loan originators who are employees of national and state banks, savings associations, Farm Credit System institutions, credit unions, and certain of their subsidiaries (known as “agency-regulated institutions”) to meet the registration requirements of the Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (the "S.A.F.E.