Marshall, Roth & Gregory Law Firm
info@mrglawfirm.com 828.281.2100
  • Home
  • The Firm
  • Practice Areas
  • Attorneys
  • MRG News
  • FAQs
  • A Legal Moment
  • Contact

Comprehensive Legal Services for Businesses and Individuals.

Enjoy the advantages of combining the diverse practice of a large firm with the personal relationship only a small firm can offer. Contact Us

MRG News

        Bank of America Agrees to Settle

     Whistleblower Suit for $16.65 Billion

                                       

ASHEVILLE, NC – As part of Bank of America’s (BOA) $16.65 billion settlement with the United States government over the mortgage financing debacle, a company in New Jersey has been awarded $8.5 million for notifying and assisting the government regarding BOA’s irregular mortgage practices and FHA insurance claims.

Asheville attorney Clifford “Kip” Marshall of Marshall, Roth & Gregory, PC., together with the New York law firm of Milberg LLP, on behalf of the whistleblower, Mortgage Now, Inc., brought a “Qui Tam” action against Charlotte-based Bank of America, alleging that the bank defrauded HUD by submitting claims for purported losses arising from FHA-insured mortgage loans.

Brought under the federal False Claims Act, a qui tam lawsuit allows “whistleblowers” to assist the government in investigating and prosecuting companies and individuals who may be defrauding the government in various federal programs including federal mortgage insurance, Medicare/Medicaid, defense procurement, and other federal programs. If the government is successful in recovering funds and monetary penalties from the companies or the individuals defrauding it, the whistleblower is entitled to an award ranging from 15 to 25 percent of the funds recovered in recognition of the professional and personal risks the whistleblower takes in bringing the fraud to light.
  • Post Office Box 769 (28802)
  • 90 Southside Avenue
  • Suite 100
  • Asheville, NC 28801

  • Telephone:    828.281.2100 Fax:               828.281.2120 E-mail:          info@mrglawfirm.com

    Recent Posts

    1. May 12, 2025
      2025 Estate & Gift Tax Update
      read more
    2. November 01, 2024
      Trees
      read more
    3. October 24, 2024
      Construction Loans Primer in the Wake of Hurricane Helene
      read more

    Contact Us

    Copyright © 2013-24 Marshall, Roth & Gregory, PC