Cold, Hard Numbers: 63.9 Million
Amount, in dollars, that Keith Edwards, JPMorgan Chase & Company whistleblower, will receive as a reward for exposing the lender’s fraudulent activities that led to the government insuring flawed home loans. JPMorgan Chase admitted in a settlement last month that it “submitted thousands of mortgages for insurance by the Federal Housing Administration (FHA) or the Department of Veterans Affairs (VA) that did not qualify for government guarantees.” The lender also admitted that it failed to tell the FHA and VA when its own internal reviews revealed problems with the mortgages. Edwards sued JPMorgan Chase in January 2013 for defrauding taxpayers. His payment amount was revealed last week, and he will be paid through the Justice Department’s whistleblower rewards program[1].
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