A Sea Of Red

Here is the news release on Reuters:

Whistleblower Rewards Top $2 Billion
Wed Jan 2, 2008 9:05am EST

LYNCHBURG, Va., Jan. 2 /PRNewswire/ -- The government reached an important
landmark by topping $2 billion in rewards paid to citizens for reporting
fraud. The average whistleblower reward was $1.5 million. The largest reward
exceeded $100 million.
Last year, the government spent more than $2.5 trillion dollars. Under
many of its programs it is losing 10% to corporate fraud, with the total
amount of fraud exceeding $150 billion each year. In response, Congress
authorized the Department of Justice to create the Whistleblower Reward
Program and pay up to 25% of what it collects against cheating companies as
rewards to private citizens who report fraud.
Without the help of whistleblowers, the government catches only 1% of
corporations who defraud more than 20 government agencies, like the military,
the post office, Medicare, and Homeland Security. Under the reward program,
the Department of Justice has already recovered $12.5 billion. Whistleblowers
are now responsible for one-half of all recoveries for fraud against the
government.
There is no limit to the amount of rewards paid and there is no cap to the
dollar amount paid to an individual. The reward is a formula based upon the
size of the fraud case you report.
Recently, the IRS adopted its own whistleblower reward program. It hopes
to be able to start paying billions of dollars in rewards because it estimates
that companies are evading taxes by over $300 billion each year.
There is a new book that walks you step-by-step through the process of
determining if you are eligible for a reward and how to properly file your
application. It is named Whistleblowing, A Guide to Government Reward
Programs: How to Collect Millions of Dollars for Reporting Fraud, and is
available at your favorite bookstore. The author, Joel Hesch, worked for 15
years as an attorney in the Fraud Division of the Department of Justice
helping administer the National Whistleblower Reward Program. He is now a
legal professor at Liberty University School of Law. His website offers free
information and up-to-the-minute updates on reward programs at
www.HowToReportFraud.com.
Hesch is available for interviews, and can provide a review copy of his
book to journalists.
SOURCE Joel Hesch, Esq.

Joel Hesch, Esq., 434-592-4251 (office) jhesch@liberty.edu

http://www.reuters.com/article/pressRel ... RN20080102

I know Joel. He is a great guy. Easy to talk with.

hmm, i think i could name some companies. do you have to have evidence or just tip them off? maybe i could pay for my college with that!

JDUB wrote:hmm, i think i could name some companies. do you have to have evidence or just tip them off? maybe i could pay for my college with that!

Joel says it needs to be at least $5 million before they would look at it seriously.