Types of TARP Cases

 

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Likely TARP fraud includes, but is not limited to:

  • False certification of TARP funds eligibility;
  • Conflicts of interest for fund managers;
  • Collusion between participants;
  • Failure to comply with TARP regulations;
  • Money laundering;
  • Fraud in mortgage modifications (i.e. falsification of residence, income, and/or participants in mortgage transactions);
  • Failure to comply with the Single Audit Act.

The federal government has passed updated False Claims Act (“FCA”) legislation to pay whistleblowers 15 to 30% of the government’s recovery for legitimate claims of fraud, waste, or abuse of government funds. The FCA empowers private citizens to blow the whistle on fraud and to act as the federal government’s watchdog. The FCA allows anyone – – employees, subcontractors, competitors, and others – – to file suit on behalf of the United States Government in order to stop misuse of TARP or other government funds and, if there is a recovery, to receive a substantial reward for doing so.