False Claims Act Stats: With $3.2 Billion Already This Year, DOJ Likely to Match Last Year’s False Claims Act Take
By our count, so far this DOJ fiscal year, DOJ has raked in at least $3.2 billion in FCA recoveries, pulling in an average of $298 million per month. If the next month's DOJ recoveries continue on pace with the past eleven, DOJ is on track to hit about $3.6 billion in settlements for the fiscal year. That would mean DOJ would match last year’s nearly $3.6 billion take.
DOJ FY '16, Oct. 1, 2015 - Aug. 22, 2016
But, our estimate is
conservative. We have not included any
portion of Wells Fargo’s $1.2 billion
settlement with DOJ because we
cannot tell from public documents how to allocate the $1.2 billion between the
different claims that were resolved in the settlement (FCA; Financial
Institutions Reform, Recovery, and Enforcement Act (FIRREA); Program Fraud
Civil Remedies Act; and common law claims). We will wait to see how DOJ
allocates that $1.2 billion in its end-of-year FCA settlement press release,
but in all likelihood, a fair share will be deemed an FCA recovery, boosting
DOJ’s annual recovery even higher.