Countrywide Whistleblower Gets $57M

Edward O’Donnell, the former Countrywide Financial executive who blew the whistle on Bank of America, will receive over $57 million for helping the federal government collect a $16.65 billion penalty for false claims, the New York Times reported yesterday.

O’Donnell filed a lawsuit under the whistleblower provision of the False Claims Act, which allows private parties with knowledge of fraud against the government to sue on the government’s behalf and share in the recovery.  He alleged that Bank of America was churning out shoddy mortgage and related securities before the financial crisis.

The Chanler Group, in association with the Hirst Law Group, represents whistleblowers who take action under the False Claims Act to report fraud committed against the federal and state governments.  We have years of experience representing whistleblower clients who expose every kind of fraud against the government, including health care fraud, contract fraud, and tax fraud.  Read more about our expertise in False Claims Act cases and how you can take action.