Feds Seeking Whistle Blowers For Mortgage Securities Fraud
If you ever worked in the mortgage securities business and witnessed illegal activity, the U.S. Government wants to hear from you - and may be willing to pay for what you know. “Substantial rewards” may be available for whistle-blowers, the Wall Street Journal said. The feds now have a Web site, www.stopfraud.gov/report, set up as a conduit for mortgage business insiders to report fraud. The Journal quotes Tony West, an acting associate attorney general, as saying as saying his agency is seeking people in the mortgage industry “who acted responsibly, but who also may have witnessed greed and misconduct.” The reward could be up to 30 percent of any government monetary recovery in cases that are pursued, the Journal added.