The False Claims Act is a federal law that imposes liability on persons and companies who defraud governmental programs. It is the main tool utilized by the federal government to combat fraud and an overwhelming amount of these fraud claims (over 70%) are a result of actions initiated by whistleblowers. Part of this act contains a “Qui Tam” provision that allows people with no government affiliation file actions on the government’s behalf (these people are frequently referred to as whistleblowers).
Individuals who file Qui Tam actions are entitled to a percentage of the amount of money that is recovered (on average anywhere from 15-30%). The law was substantially overhauled in 1986, and since then, the government has recovered over $35 billion from Qui Tam cases brought by whistleblowers.
At Loan Lawyers, our Fort Lauderdale and Miami whistleblower lawyers are equipped to represent you in a Qui Tam case to bring forth illegal activity.
How Our Fort Lauderdale Whistleblower Attorneys Can Help
The financial industry is replete with fraudulent activity and some of this country’s largest financial institutions have been held accountable for fraud under the False Claims Act. In the last several years, an increased number of financial institutions have been the subject of mortgage fraud lawsuits brought by the United States government, as well as by the world’s largest mortgage insurer, the FHA (Federal Housing Administration), under the federal False Claims Act due to mortgage fraud.
Some possible areas of fraudulent activity that may be subject to whistleblower lawsuits are:
- Banks that have received money through the federal bailout programs known as the “Troubled Asset Recovery Program” (TARP) that have used the funds improperly or otherwise violated the terms of the program
- Mortgages that are backed by the FHA that were obtained through fraudulent information
- Kickbacks or misrepresentations in connection to government backed or sponsored mortgage products
- Violations under the Dodd-Frank Wall Street Reform and Consumer Protection Act
- Collusion among participants of government programs to use government funds for personal financial gain
If you suspect that any banks, lending firms, or mortgage servicers are engaging in fraud that may involve government funds or programs, call Loan Lawyers to schedule a confidential free consultation with one of our attorneys at (844) 344-4813.