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Prominent New York City Real Estate Investor, Attorney and Atlanta Nursing Home Chains Pay $14 Million to Settle Whistleblower Kickback Case
Date:2/26/2010

nder the False Claims Act, whistleblowers are entitled to a reward of 15 percent to 25 percent of the amount the government recovers as a result of their qui tam lawsuits. The reward in this case hasn't been decided yet.

Resnick served time in prison for his role in the collapse of a Chicago bank in 2002 due to his pathological gambling addiction. The settlement announced today furthers his  compelling seven years of successful recovery and positive life changes. He will use a substantial amount of his reward from this case to pay restitution to the government for his role in the bank collapse.

Resnick recently wrote an op-ed that explains how society benefits from giving people such as himself a second chance. (http://www.denverpost.com/recommended/ci_14385341) He co- authored a memoir called Bust: How I Gambled and Lost a Fortune, Brought Down a Bank – and Lived to Pay For It, which tells his story of being a successful businessman and devoted family man while secretly and obsessively winning and losing millions on blackjack and sports bets.

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SOURCE Phillips & Cohen LLP
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