Wilbanks & Gouinlock filed a whistleblower lawsuit involving serious allegations of loan certification fraud. The case centered on a lender that fraudulently bundled and concealed financial information, leading the government to guarantee loans under false pretenses. These guarantees were based on certifications that the lender claimed were accurate—when in fact, they were not.
As a result of the loan certification fraud, the U.S. government incurred significant financial losses. The certifications provided by the lender were knowingly false, causing federal loan guarantees to be issued on high-risk or misrepresented loans.
Thanks to the efforts of Wilbanks & Gouinlock, the case was successfully resolved with a $16 million settlement. This outcome underscores the importance of whistleblower actions in identifying and exposing loan certification fraud that threatens public funds.
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This article is for informational purposes only and should not be considered legal advice.
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