$14.5 Million Dollar Payment To Bank Of America/Countrywide Whistleblower

Kyle Lagow, a former home appraiser with Countrywide Financial brought suit under the Federal False Claims Act accusing his employer of defrauding the Federal Government by inflating appraisals on government backed loans.  Lagow along with four other whistleblowers, initiated suits that were combined and ultimately led to a $25 billion settlement reached between state and federal officials and five lenders including Bank of America.  The settlements were unsealed in February 2012 but the amount of Mr. Lagow’s payment was just released.

For more information please see:
http://www.reuters.com/article/2012/06/04/tagblogsfindlawcom2012-injured-idUS50760400820120604

https://www.falseclaimsact.com/flagstar-becomes-the-latest-bank-to-settle-false-claims-act-case