• Company
  • Description
  • Recovery Amount
  • Bank of America
  • U.S. ex rel. Szymoniak v. Bank of America, et al.
  • $95 million

 

District of South Carolina / Western District of North Carolina

G&E’s False Claims Litigation Group played a part in the government’s $25 billion recovery in the winter of 2012 against several of the world’s largest banks.  G&E represented the whistleblower in a lawsuit against mortgage servicers Bank of America Corporation, J.P. Morgan Chase & Co., Wells Fargo & Company, and Citigroup Inc. The defendants agreed to pay $95 million to resolve allegations that they participated in a pervasive nationwide practice of failing to obtain required mortgage assignments and using false assignments to submit Federal Housing Administration mortgage insurance claims, which resulted in servicing misconduct. G&E worked with the U.S. Attorney’s Office for the District of South Carolina, the U.S. Attorney’s Office for the Western District of North Carolina, the Offices of Inspector General and legal counsel from the U.S. Department of Housing and Urban Development, Treasury and Federal Reserve to achieve this settlement. The whistleblower’s allegations and information also served to aid in the government’s overall blockbuster recovery.