SEC Fraud Attorney Tim McInnis

Sec Fraud

In the wake of the Bernie Madoff Ponzi scheme scandal, Congressed passed an SEC Whistleblower Law and the Securities and Exchange Commission established a Whistleblower Office to handle SEC Fraud cases. The SEC Whistleblower Program provides monetary incentives for individuals to come forward and report possible violations of the federal securities laws to the SEC. Under the program eligible whistleblowers may receive an award of between 10% and 30% of any money collected by the SEC or other regulatory and law enforcement authorities. The SEC Whistleblower Law also has a provision prohibiting retaliation by employers against employees who disclose SEC Fraud violations to the Government.

Has a pattern emerged yet as to the kinds of SEC Fraud violations which could lead to SEC whistleblower awards?

No, there really isn’t a solid track record yet. But, in the future we expect to see cases involving misrepresentations in offering materials; insider trading; market manipulation; Ponzi schemes; falsified SEC filings and accounting reports; hedge fund abuses and broker-dealer violations.

Yes, unlike many other whistleblower programs, you may submit information about SEC Fraud anonymously to the Government through an attorney. That being said, there are limited circumstances where the SEC may disclose your identity during the course of litigation or to other Government agencies, like the Department of Justice.

Are there restrictions on who can be an SEC Fraud whistleblower?

There are quite a few limitations as to who can be eligible for an SEC award. We would need to review your particular facts and circumstances, but if you fall into one of the following categories, you may find that you are ineligible: an officer, director, trustee, partner, compliance employee, internal or external auditor, accountant or attorney for the target entity.

Do you have any expertise in this area?

Yes, attorney Timothy McInnis was an enforcement attorney with the SEC for two years at the start of his career.

"Tim McInnis is an amazing attorney. He is intelligent, thorough, ethical, kind and he works very strategically in order to insure the best outcome for his clients. I would trust him with my life. He is not only an excellent attorney, but he is a compassionate person."
Denise A. Romano, January 2004

"Tim McInnis is a superb lawyer for whistleblowers. As both a relator and a lawyer I worked with for more than three and a

On October 14, 2020, medical device maker Merit Medical Systems Inc. (MMSI), of South Jordan, Utah, agreed to pay $18 million to settle allegations the company helped submit false claims to the federal Medicare and TRICARE programs and numerous state Medicaid programs by giving kickbacks to physicians and hospitals to induce the purchase and use of MMSI’s durable medical equipment devices and products. NYC attorney Timothy J. McInnis was a member of the legal team that successfully represented the whistleblower in the case, Charles J. (“CJ”) Wolf, M.D., who was the former Chief Compliance Officer of MMSI.

According to Dr. Wolf’s complaint and the government’s settlement agreement, for over six years MMSI paid kickbacks to physicians, medical practices, and hospitals. The payments were made indirectly under the guise of free advertising assistance, practice development, practice support, and so-called “educational” grants. All of this was intended to induce the healthcare providers to purchase and use MMSI’s products, including EmboSphere devices, which are used for uterine fibroid embolization procedures, and QuadraSphere devices, which are used for other types of embolization procedures. Among other things, MMSI used local advertising campaigns to steer patients to healthcare providers as a reward for past sales and to increase future purchases of MMSI products. Dr. Wolf and the government further alleged that MMSI disregarded numerous internal warnings, including from Dr. Wolf, that MMSI’s sales practices potentially violated the healthcare Anti-Kickback Statute (AKS).

The lawsuit was filed in the federal court in District of New Jersey, where attorney McInnis formerly served as an Assistant U.S. Attorney. The case is captioned United States ex rel. Wolf v. Merit Medical Systems, Inc., No. 2:16-cv-01855-CCC-MF (D.N.J.). Of the $18 million MMSI is paying to settle the case, $15.21 million will be go to the U.S. Treasury, and the remaining $2.79 million will go to the approximately 30 individual states that also joined the lawsuit.

half years and his counsel and perseverance were always spot on. His work was critical to a successful settlement of the case."
Stephen B. Diamond, Esq., August, 2016

"Tim McInnis Law represented my case with the up most professionalism. He communicated with me at every turn of the case ensuring I understood the process as well what was to come next. His patience, comprehension of Qui Tam Law and persistence in getting me the highest amount possible out of the case is unmatched. I wouldn't hesitate to recommend his law firm for a minute."
Don A. Briscoe, September 2016

SEC Fraud Attorney Tim McInnis

Sec Fraud

Has a pattern emerged yet as to the kinds of SEC Fraud violations which could lead to SEC whistleblower awards?

Are there restrictions on who can be an SEC Fraud whistleblower?

Do you have any expertise in this area?

Call us anytime 212-292-4573