TARP Fraud — Blowing the Whistle on Companies Ripping Off Taxpayers

Have you seen fraud by companies or institutions that received TARP funds? If so, you can save taxpayers money and be rewarded by the government for your service.

The Troubled Assets Relief Program (TARP) is a stimulus measure Congress passed to help jump-start the economy. The federal government has pledged $3 trillion — nearly last year's entire federal budget — to help banks, financial institutions and other mortgage-related companies rid themselves of toxic assets.

Unfortunately, history shows that some take advantage of these programs and defraud the government and taxpayers. The TARP program is very susceptible to fraud, waste, and abuse. This includes fraud through conflicts of interest for fund managers, collusion between participants, money laundering, and fraud in mortgage modifications, such as falsification of residence, income, and the participants in mortgage transactions.

If you work for a company receiving TARP funds, it is up to you to monitor the uses of these funds, and report abuse if you see it.

Under the False Claims Act, employees or others can file suit on behalf of taxpayers and help put an end to fraud and corruption in spending TARP funds. What's more, the whistleblowers who report the fraud receive as a reward a portion of the recovery.

Whistleblowers who file lawsuits under the False Claims Act against companies abusing TARP funds can receive 15 to 30 percent of the government's and taxpayer's losses.

Hagens Berman Sobol Shapiro LLP is one of the nation's premier law firms in representing whistleblowers in cases such as this. HBSS can help whistleblowers understand their rights, help them prove the claims, and take on the big corporations accused of wasting taxpayers' money.

If you've seen or heard of any of these practices happening, please contact Hagens Berman Sobol Shapiro attorneys today. You can fill out the form on this site or call our firm at (206) 623-7293.
 
 
 
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