- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Aaron Nicodemus2022-08-17T15:27:00
A Maryland-based bank and bank holding company agreed to pay nearly $23 million in penalties for improperly loaning approximately $90 million to family trusts controlled by its former chief executive officer over three years, then misleading investors about the loans.
Eagle Bancorp, parent company of EagleBank, was fined $9.5 million by the Federal Reserve Board on Tuesday for violating the board’s insider lending regulation. The bank agreed to pay an additional $13.4 million to settle charges laid by Securities and Exchange Commission (SEC).
The SEC alleged EagleBank violated negligence-based antifraud, proxy, reporting, books and records, and internal accounting controls provisions of the federal securities laws when it did not disclose the existence of the loans to investors. When the bank’s improper lending practices were exposed by a short seller, it made false and misleading statements about the loans, the agency continued.
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Four federal banking regulators have joined the Treasury Department’s Financial Crimes Enforcement Network in issuing a notice of proposed rulemaking that would require financial institutions to conduct more thorough risk assessments on their anti-money laundering/countering the financing of terrorism programs.
DaVita, a multi-state dialysis provider, agreed to pay more than $34 million to resolve allegations it engaged in numerous kickback schemes to doctors who referred Medicare patients to its dialysis centers, the Department of Justice announced.
A whistleblower will be paid $37 million by the Securities and Exchange Commission for providing original, credible information that led to a successful enforcement action.
A multi-state hospice home health provider agreed to pay $19.4 million to settle allegations that it paid kickbacks and knowingly billed federal health programs to treat non-terminally ill patients.
California-based cancer testing company Guardant Health agreed to pay more than $945,000 to settle allegations levied by the Department of Justice of violating the False Claims Act and Stark Law.
FTX Trading and the Commodity Futures Trading Commission have agreed on a $4 billion settlement in bankruptcy court to settle the CFTC’s lawsuit against the failed crypto trading platform.
