{"id":332,"date":"2012-02-09T23:31:35","date_gmt":"2012-02-09T23:31:35","guid":{"rendered":"http:\/\/www.whistleblowerlawyerblog.com\/2012\/02\/in_largest_false_claims_act_ca.html"},"modified":"2021-06-11T17:45:06","modified_gmt":"2021-06-11T21:45:06","slug":"in_largest_false_claims_act_ca","status":"publish","type":"post","link":"https:\/\/www.finchmccranie.com\/whistleblower-blog\/in_largest_false_claims_act_ca\/","title":{"rendered":"In Largest False Claims Act Case Over Mortgage Fraud, Bank of America to Pay $1 Billion"},"content":{"rendered":"<p>Since the 2008 financial collapse, many have called for imposing liability on those whose fraud fueled the crisis.<\/p>\n<p>In this early phase of what we predict will be a wave of financial fraud cases, the Justice Department announced today the largest <a href=\"https:\/\/www.qui-tam-litigation.com\/lawyer-attorney-1808913.html\">False Claims Act <\/a>settlement to date over mortgage fraud.  Bank of America has agreed to pay $1 billion to resolve allegations that the Bank, through Countrywide Financial Corporation and some of its subsidiaries and affiliates, engaged in underwriting and origination mortgage fraud.<\/p>\n<p>DOJ alleged that Countrywide knowingly made loans to unqualified home buyers and used inflated appraisals, thus causing hundreds of millions of dollars in damages to the Federal Housing Administration. The FHA insured the loans in question.<\/p>\n<div class=\"read_more_link\"><a href=\"https:\/\/www.finchmccranie.com\/whistleblower-blog\/in_largest_false_claims_act_ca\/\"  title=\"Continue Reading In Largest False Claims Act Case Over Mortgage Fraud, Bank of America to Pay $1 Billion\" class=\"more-link\">Continue reading \u2192<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Since the 2008 financial collapse, many have called for imposing liability on those whose fraud fueled the crisis. In this early phase of what we predict will be a wave of financial fraud cases, the Justice Department announced today the largest False Claims Act settlement to date over mortgage fraud. Bank of America has agreed [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4,13],"tags":[],"class_list":["post-332","post","type-post","status-publish","format-standard","hentry","category-false-claims-act","category-financial-fraud"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>In Largest False Claims Act Case Over Mortgage Fraud, Bank of America to Pay $1 Billion &#8212; Whistleblower Lawyer Blog &#8212; February 9, 2012<\/title>\n<meta name=\"description\" content=\"Since the 2008 financial collapse, many have called for imposing liability on those whose fraud fueled the crisis. In this early phase of what we predict &#8212; February 9, 2012\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.finchmccranie.com\/whistleblower-blog\/in_largest_false_claims_act_ca\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"In Largest False Claims Act Case Over Mortgage Fraud, Bank of America to Pay $1 Billion &#8212; Whistleblower Lawyer Blog &#8212; February 9, 2012\" \/>\n<meta name=\"twitter:description\" content=\"Since the 2008 financial collapse, many have called for imposing liability on those whose fraud fueled the crisis. In this early phase of what we predict &#8212; February 9, 2012\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Michael Sullivan\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"In Largest False Claims Act Case Over Mortgage Fraud, Bank of America to Pay $1 Billion &#8212; Whistleblower Lawyer Blog &#8212; February 9, 2012","description":"Since the 2008 financial collapse, many have called for imposing liability on those whose fraud fueled the crisis. 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In this early phase of what we predict &#8212; February 9, 2012","twitter_misc":{"Written by":"Michael Sullivan","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.finchmccranie.com\/whistleblower-blog\/in_largest_false_claims_act_ca\/#article","isPartOf":{"@id":"https:\/\/www.finchmccranie.com\/whistleblower-blog\/in_largest_false_claims_act_ca\/"},"author":{"name":"Michael Sullivan","@id":"https:\/\/www.finchmccranie.com\/whistleblower-blog\/#\/schema\/person\/06cb979e5d74ec7f83f73b757da4331f"},"headline":"In Largest False Claims Act Case Over Mortgage Fraud, Bank of America to Pay $1 Billion","datePublished":"2012-02-09T23:31:35+00:00","dateModified":"2021-06-11T21:45:06+00:00","mainEntityOfPage":{"@id":"https:\/\/www.finchmccranie.com\/whistleblower-blog\/in_largest_false_claims_act_ca\/"},"wordCount":173,"articleSection":["False Claims Act","Financial Fraud"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.finchmccranie.com\/whistleblower-blog\/in_largest_false_claims_act_ca\/","url":"https:\/\/www.finchmccranie.com\/whistleblower-blog\/in_largest_false_claims_act_ca\/","name":"In Largest False Claims Act Case Over Mortgage Fraud, Bank of America to Pay $1 Billion &#8212; Whistleblower Lawyer Blog &#8212; February 9, 2012","isPartOf":{"@id":"https:\/\/www.finchmccranie.com\/whistleblower-blog\/#website"},"datePublished":"2012-02-09T23:31:35+00:00","dateModified":"2021-06-11T21:45:06+00:00","author":{"@id":"https:\/\/www.finchmccranie.com\/whistleblower-blog\/#\/schema\/person\/06cb979e5d74ec7f83f73b757da4331f"},"description":"Since the 2008 financial collapse, many have called for imposing liability on those whose fraud fueled the crisis. 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