May 19, 2011
The Daily Report for Executives and Banking Daily article, "False Claims Act May Increasingly Be Used To Target Financial Companies, Lawyers Say," reported on the Justice Department's and whistleblowers' use of the FCA. The article quoted partner Sarah L. Reid as noting the FCA is an immensely powerful tool that the government is using in the financial services area.
"The actual number of cases currently being developed by the government against financial firms is not necessarily known because prosecutors are currently working on them. 'To the extent these are going to come to fruition, you should be seeing them in the next year or so,' Reid said."