Thread: BoA Pay $930,000 Restitution To Whistleblower Who Was Fired

Bank Of America To Pay $930,000 Restitution To Whistleblower Who Was Fired For Reporting Fraud At Countrywide

Submitted by Tyler Durden
09/14/2011 15:27 -0400
Comments: 63 / Reads: 4,023

We hardly needed confirmation that a) Bank of America is a den of criminals and thieves, that b) its toxic $1.3 trillion mortgage division, better known as Countrywide, is an even scarier and more putrid den of criminals and thieves, and that c) it retaliates against anyone who dares to remind the bank that there are such things as laws, and the aforementioned criminals and thieves actually have to follow these. Yet this is precisely what we just got after the Department of Labor said that it must pay $930,000 to an employee who led internal probes of abuses at its Countrywide Financial unit and was fired in violation of whistleblower protections. Bloomberg reports "the employee, who also must be reinstated, had claimed that people who tried to report fraud to Countrywide’s employee- relations department suffered persistent retaliation, the agency said today in a statement. He was fired after Charlotte, North Carolina-based Bank of America’s 2008 purchase of Countrywide, according to the statement." So is it possible that the general public can now get the documentation that said whistleblower was fired for attempting to bring to his retaliating superiors' attention? And just how damaging will this development be to a bank which is already embroiled in litigation with virtually every single entity that has every transacted in mortgages both in America, and now abroad? http://www.zerohedge.com/news/bank-amer ... gage-fraud

http://www.zerohedge.com/news/bank-amer ... ountrywide

BofA Ordered to Pay $930,000 to Fired Whistleblower


By Hugh Son
Bloomberg
Sep 14, 2011


Bank of America Corp. (BAC) must pay $930,000 to an employee who uncovered fraud at Countrywide Financial Corp. and was fired in violation of whistleblower protections, the U.S. Department of Labor said.

The employee was terminated soon after the Charlotte, North Carolina-based bank took over Countrywide in 2008, the agency said today in a statement. The worker, who must also be reinstated, led internal investigations that found “pervasive wire, mail and bank fraud involving Countrywide employees,â€

What about restitution to the American Taxpayer!!!!!!! How about jail time for the fraudsters!!!!!