Excerpt taken from the article
A staggering $104 million whistleblower award issued Tuesday by the Internal Revenue Service armed plaintiffs attorneys with a powerful new recruitment tool and promises to make it more difficult for companies to convince their employees to report misconduct internally, experts say.
The IRS gave the unprecedented award to Bradley Birkenfeld, a former UBS AG employee who helped expose the Swiss bank's efforts to shield U.S. clients from taxes. Birkenfeld, who pled guilty and recently served 2 1/2 years in prison for his role in the scheme, provided information that enabled the U.S. government to obtain a $780 million settlement with UBS in 2009.
"The IRS is clearly trying to send a message with this," said Christopher S. Rizek
of Caplin & Drysdale. "They're trying to say this program is alive and vibrant, and that it works if you blow the whistle. And a big, big number gets everybody's attention." Visit Law360 to read the entire article