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MarketTicker Forums Read Message in Foreclosuregate
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User Info US: Citigroup whistleblower: I have no regrets in forum [Foreclosuregate]
Duc888
Posts: 7368
Incept: 2008-11-06
Gold
CT, the UNconstitution State
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Jonathan Stempel & Robert Birsel
Reuters
Fri, 17 Feb 2012 07:09 CST



Quote:
It wasn't Sherry Hunt's original intent to go public on the shoddy quality control at a mortgage unit at Citigroup Inc, her employer since 2004.

But by March 2011, as it became apparent to her that the problems were getting worse and not being addressed, the Missouri quality assurance manager decided enough was enough.

"I set up an appointment with human resources and ethics and told them everything," Hunt recalled in a telephone interview. "They did some cursory investigation. The sad part is, they never ever told me, 'Sherry, you were right,' or 'Sherry, you're looking at this wrong.' There were no assurances."

Instead, Hunt, who got her start in the mortgage industry in 1975 at age 18, filed a whistleblower lawsuit against Citigroup, the third-largest U.S. bank by assets.

The United States joined the civil fraud case, which raised claims under the False Claims Act, a federal law designed to recover money taken from the government by fraud, and discourage further wrongdoing. Whistleblowers can receive up to 25 percent of settlement amounts in such cases.

Wednesday, Citigroup agreed to pay $158.3 million to settle. Hunt said her share will be $31 million, before taxes and attorney fees. Her lawyer declined to disclose those fees.



http://www.sott.net/articles/show/241656....

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...burp

Free
Posts: 3242
Incept: 2007-07-28
Green
The world
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smiley

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"Don't believe everything you hear and only half of what you see."
Peterm99
Posts: 4995
Incept: 2009-03-21
Gold
SoCal
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I can confidently say that I, too, would have no regrets if I could have impeded some banksters from their thievery and walked away with nearly 20 megabucks after taxes.

Good for her.

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". . . the Constitution has died, the economy welters in irreversible decline, we have perpetual war, all power lies in the hands of the executive, the police are supreme, and a surveillance beyond Orwell’s imaginings falls into place." - Fred Reed
Houstonstan
Posts: 962
Incept: 2007-09-20
Green
TX
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Good for her.

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Hobbies: Masturbation and smoking. I'm a 40 day'er and I smoke a lot.
Argos
Posts: 6338
Incept: 2008-03-23
Gold
The Green Mountain State
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The Sherry Hunt story as written by BB's Bob Ivry:

http://www.bloomberg.com/news/2012-05-31....

The headline reads: Woman Who Couldn’t Be Intimidated by Citigroup Wins $31 Million.

Genesis
Posts: 130807
Incept: 2007-06-26
Admin A True American Patriot!
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That got Tickered.


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I don't care if it makes sense -- only if it makes money. -- Me
Bank (n): See scam, fraud and theft. Eat a bankster -- they're low-carb.
What part of "shall not be infringed" was unclear?
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