New York Receives $105 Million In Tax Revenue And Damages Under False Claims Statute, While Other States Take Steps To Remove Their Tax Bar - Finance and Banking

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In early March, New York State Attorney General Letitia James
and New York City Corporation Counsel John E. Johnson announced a $105 million settlement
against a hedge fund manager for tax evasion. The New York
authorities were alerted to the potential of fraud in October 2018
by a whistleblower lawsuit brought under New York's False
Claims Act (FCA). This settlement adds to the more than $460
million in tax-related false claim settlements the state has
collected to date. This recovery should alert businesses to the
continued trend of states pursuing tax claims under their

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