- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Joe Mont2019-06-18T14:57:00
The United States seems poised to finally tackle issues surrounding shell companies and their often-opaque beneficial ownership structures.
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A proposed bill to crack down on anonymous shell companies passed a House of Representatives vote Tuesday and will progress to the Senate.
The newly proposed ILLICIT CASH Act would, for the first time, require shell companies to disclose their true owners to the U.S. Department of Treasury.
Three former executives of Chicago-based Outcome Health, a healthcare technology company, were sentenced for misleading an auditor, clients, lenders, and investors about a scheme to sell $45 million in overbilled advertisements.
A home health company operating in Indiana, Ohio, and Texas agreed to pay nearly $4.5 million to settle allegations it filed false claims by giving sports tickets and other kickbacks to assisted living facilities in exchange for referrals.
Crypto-friendly Silvergate Bank will pay a total of $63 million penalties to California and the Federal Reserve Board to settle charges that its anti-money laundering program failed to properly monitor more than $1 trillion worth of customer transactions.
A Minnesota dermatology practice, its owner, and chief executive agreed to pay $1.6 million to settle allegations, first brought by two whistleblowers, that the company violated the Anti-Kickback Statue by making false claims to Medicare.
