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      <title>Koyal Private Training Group by Luan Pereira</title>
      <link>https://padlet.com/iamluanpereira/luanpereira</link>
      <description>Koyal Training Group is a global provider of Insurance Fraud and Investigative Training serving the Online and In-Person Training Program need of all lines of insurance and investigative staff.</description>
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      <pubDate>2014-03-11 06:50:58 UTC</pubDate>
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         <title>Insurance Fraud Certified at Koyal Group: JPMorgan whistle-blower gets $64M for mortgage fraud tips</title>
         <author>iamluanpereira</author>
         <link>https://padlet.com/iamluanpereira/luanpereira/wish/23146385</link>
         <description><![CDATA[<p><a href="http://triblive.com/business/headlines/5725154-74/government-edwards-jpmorgan#axzz2vVH7CZ8v">Triblive.com</a></p>

<p>NEW YORK — A
whistle-blower will be paid $63.9 million for <a href="http://koyaltraininggroup.org/">providing
tips</a>
that led to JPMorgan Chase &amp; Co's agreement to pay $614 million and tighten
oversight to resolve charges that it defrauded the government into insuring
flawed home loans.</p>
<p>The payment to
the whistle-blower, Keith Edwards, was disclosed on Friday in a filing with the
U.S. district court in Manhattan that formally ended the case.</p>
<p>In the Feb. 4
settlement, JPMorgan admitted that for more than a decade it submitted
thousands of mortgages for insurance by the Federal Housing Administration or
the Department of Veterans Affairs that did not qualify for government
guarantees.</p>
<p>JPMorgan said it
had failed <a href="http://www.yelp.com/topic/san-francisco-koyal-group-private-training-services-trove-of-clues-and-confessions">to tell</a> the agencies that its own internal
reviews had turned up problems.</p>
<p>The government
said it ultimately had to cover millions of dollars of losses when some of the
bank's loans went sour, resulting in evictions and foreclosures nationwide.</p>
<p>“There were a
lot of bad loans made during the <a href="http://www.scribd.com/collections/4401251/Koyal-Private-Training-Group">financial</a> boom, and the United States taxpayer
was left holding the bag through the VA and FHA loan programs,” said Edwards'
lawyer, David Wasinger. “Hopefully the settlement sends a message to Wall
Street that this conduct is not allowed, and that in the future it will be held
accountable.”</p>
<p>Edwards could
not immediately be reached for comment.</p>
<p>About $56.5
million of Edwards' award concerns the FHA portion of the case, and $7.4
million <a href="http://www.koyaltraininggroup.org/fraud.html">concerns</a> the VA portion. Wasinger declined to
discuss his legal fees.</p>
<p>Edwards, a
Louisiana resident, had worked for JPMorgan or its predecessors from 2003 to
2008, and had been an assistant vice president supervising a government
insuring unit.</p>
<p>He originally
sued in January 2013 under the federal False Claims Act, which lets individuals
sue government contractors and suppliers for allegedly defrauding taxpayers.
The Department of Justice later joined as a plaintiff.</p>
<p>Whistle-blowers
can recover portions of False Claims Act settlements, which often grow if the
government gets involved.</p>]]></description>
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         <pubDate>2014-03-11 06:52:47 UTC</pubDate>
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