Attorney Nathaniel Garrett presented a program entitled “Incentivized Integrity: Whistleblower Reward Statutes” for the Northeast Lawyer’s Club on November 1, 2019. The presentation provided one hour of CLE credit and covered four statutes that offer financial incentivizes for whistleblowers. Specifically discussed were:
- Federal False Claims Act: Originally signed into law by President Abraham Lincoln to deter and prosecute war profiteers defrauding the Union Army, the False Claims Act is America’s primary litigation tool in combating fraud against the government. The statute allows whistleblowers to sue wrongdoers on behalf of the government, entitling them to a portion of the recovery. Since 1986, the False Claims Act has recovered over $59 billion.
- Securities & Exchange Commission (SEC) Whistleblower Program: Born out of the global financial crisis, the SEC established a whistleblower office that encourages those with knowledge of securities law violations to anonymously report such violations. In exchange, the whistleblower is entitled to a portion of any SEC enforcement action.
- Commodity Futures Trading Commission (CFTC) Whistleblower Program: Similar to the SEC’s program, the CFTC established a whistleblower office to encourage those with knowledge of violations of law involving the U.S. derivatives markets (e.g., commodities, futures, swaps, options) to anonymously report such violations. In exchange, the whistleblower is entitled to a portion of any CFTC enforcement action.
- Internal Revenue Service (IRS) Whistleblower Program: For over a 150 years, the IRS had discretion to pay whistleblowers a financial reward for reporting tax law violations. Recently, the IRS established a whistleblower office and created mandatory awards to encourage those with knowledge of tax underpayments or tax law violations to anonymously report such concerns. In exchange, the whistleblower is entitled to a portion of any tax, penalty, or other amounts the IRS collects.
Attorneys interested in viewing the presentation and receiving CLE credit will be able to access it online at LegalTechnicality.com.
Nathaniel Garrett is a U.S. Air Force JAG Corps veteran and a former federal prosecutor and criminal defense lawyer with a deep appreciation for representing whistleblowers. He also served as a Special Assistant U.S. Attorney for the District of Colorado. For Nathaniel, representing whistleblowers is a continuation of service to his country as it allows him to partner with the federal government to deter and prosecute fraud, corporate greed, public health crises, misuse of Medicare dollars, and other challenges to taxpayers, financial markets, and the U.S. treasury. Nathaniel graduated near the top of his class from the University of Cincinnati College of Law and served as the 81st Editor-in-Chief for the Law Review, the school’s premier legal publication. See Nathaniel Garrett’s profile for more information.
The attorneys at Helmer Martins Rice & Popham have litigated some of the toughest and most complex cases in the country. We have prosecuted False Claims Act cases on behalf of whistleblowers longer than any law firm in America. If you are a potential whistleblower, please contact us.