When a business is doing something shady and illegal, often the best-placed people to know about it are the employees who are supposed to carry it out. That’s why there are laws in place to protect whistle-blowers who report their employers to the appropriate authorities… and breaking those laws can sometimes land a company in as much trouble as doing the thing an employee would report them for to begin with.
Sherry Hunt, a Citigroup quality-assurance vice president turned in evidence of purposeful fraud against Fannie Mae and Freddie Mac and now stands to gain as much as $31 million as her share of the fine.
Please consider Citigroup ‘Defrauded' Fannie, Freddie.
NEW DELHI: Facing pressure from the US for separate legislation on protecting trade secrets, India has asked Washington to provide data to ascertain the feasibility of such a law before deciding on the matter. The Indian government wants to know the number of cases filed in each US state since an American law on trade secrets was enacted, in order to figure out if it would be practical to have a separate legislation here to check misappropriation of trade secrets. The matter was discussed at a bilateral video conference of the Intellectual Property Rights Working Group last week.
Since 2014, Narayan Konduru Reddy has been relentlessly writing emails to drug regulators from the US to Europe asking them to investigate the malpractices he alleged of his former employer GVK Biosciences, a leading contract research firm based in Hyderabad. According to Reddy, GVK was fudging data to pass the efficacy test of certain medicines. One of his emails landed with the French drug authorities who banned in 2015, 700 drugs — across EU — that GVK tested. Reddy's actions turned him into one of the pharma industry's most prominent whistle-blowers in recent years. Sounds heroic, right?