Benjamin Calitri
Benjamin CalitriPublic Interest Law Fellow
  • Northeastern University School of Law
    • Juris Doctor, May 2022
  • Suffolk University
    • Bachelor of Science in Government with a Concentration in Law and Public Policy
    • and Minors in History and Law, May 2019

District of Columbia

From the Whistleblower and Qui Tam Blog

As ESG Investments Continue to Rise, Whistleblowers are Critical to Uncovering Fraud

By Benjamin Calitri|December 8th, 2021|ESG, Securities and Commodities Fraud, Whistleblower News and Qui Tam Blog|

This article originally appeared in JD Supra. Sustainable investment, known as ESG Investment, which stands for the focuses of Economic, Social and Governance, has skyrocketed in recent years. Sustainable investment increased by $288 billion globally throughout 2020. ESG assets are expected to represent “more than a third of the $140.5 trillion in projected total assets under management” at over $50 trillion by 2025. This type of investment can have a significant influence, as it can serve as an incentive for companies to better manage their impact on climate change and human rights by requiring due diligence in these areas to increase investment. Its impact can travel from publicly traded companies to seemingly unconnected industries and issues through their supply chains There are multiple reasons for the sudden increase in ESG Investment. The first is that ESG Investments have recently outperformed other stocks. These socially conscious investments had limited returns for investors in the past; ...

Why Did Seven Senators Oppose the False Claims Amendments Act of 2021?

By Benjamin Calitri|November 3rd, 2021|False Claims/Qui Tam, Whistleblower News and Qui Tam Blog|

This article was originally published in the National Law Review. On October 28, there was a hearing and vote on the False Claims Amendments Act of 2021, which aims to fix oversights, loopholes, and misinterpreted definitions in the False Claims Act.” The Senate Judiciary Committee voted to advance this act with fifteen (15) yes votes and seven (7) votes of no. An amendment to the False Claims Amendments Act of 2021, proposed by Senator Cotton, which “strips everything in the [False Claims Amendments Act of 2021] except the GAO report,” as said by Senator Grassley, did not pass. The False Claims Amendments Act of 2021 “is about tuning up a very well-oiled machine,” as said by Senator Grassley, so why did seven senators oppose these fixes to the FCA? The Senators who voted against the False Claims Amendments Act of 2021 are Senator Lee of Utah, Senator Cruz of Texas, Senator Sasse of Nebraska, Senator Hawley of Missouri, Senator Cotton ...

New Cop on a Bigger Block: The CFTC Steps into Enforcement of Anti-Corruption in Commodities Markets with Vitol Settlement

By Benjamin Calitri|November 2nd, 2021|Securities and Commodities Fraud, Whistleblower News and Qui Tam Blog|

The Commodity Exchange Act (CEA) tasks the Commodity Futures Trading Commission (CFTC) with regulating the U.S. derivatives markets. A December 3, 2020 order filing and settling charges against Vitol Inc., required it “to pay more than $95 million in civil monetary penalties and disgorgement,” has seemingly expanded that role. The order found that Vitol had engaged in fraud and manipulation of markets through corrupt payments to foreign state-owned entities for confidential information and preferential treatment, as well as engaging in manipulative trading activity. The Unlawful Activity by Vitol The activity in the Vitol case involved payments by Vitol to state-owned entities of Brazil, Ecuador, and Mexico for preferential treatment from 2005 to 2015. These payments allowed Vitol “to, among other things, rig or circumvent bidding processes for oil contracts” in these countries, which gave them an unfair advantage over competitors. Additionally in Brazil, “Vitol obtained, in addition to improper preferential treatment ...

The Real Effect of the False Claims Amendment Act of 2021

By Benjamin Calitri|October 27th, 2021|False Claims/Qui Tam, Whistleblower News and Qui Tam Blog|

This article originally appeared in JD Supra. The Senate Judiciary Committee is currently considering amendments to the False Claims Act, a law originally passed during the Civil War that was modernized in 1986. The debate in the Judiciary Committee is being closely watched because since the 1986 amendments the False Claims Act has become the most effective anti-fraud statute protecting taxpayers from fraud in government contracting and procurement. In fiscal year 2020 alone the U.S. government recovered over “$2.2 billion in FCA settlements and judgments — over $1.6 billion of which is attributed to whistleblower-initiated lawsuits.” The amendment pending before the Judiciary Committee, formally known as the False Claims Amendments Act of 2021 (S.2428) was proposed by a group of senators led by Senator Chuck Grassley (R-IA) to clarify the statute. The primary reform addresses judicial interpretations of the “materiality” requirement contained in the FCA. The issue arose due to ...

Over $100 Million Awarded to Whistleblowers from CFTC Enforcement Actions

By Benjamin Calitri|October 5th, 2021|Securities and Commodities Fraud, Whistleblower News and Qui Tam Blog|

Approximately $123 million in awards has been awarded to whistleblowers since the Commodity Futures Trading Commission’s (CFTC) Whistleblower Program was created under the 2010 Dodd-Frank Act. The actions from these whistleblower’s actions have resulted in monetary relief of over $1 billion. In the period from October 2019 to September 2020 alone, the CFTC granted 16 applications for whistleblower awards, leading to approximately $20 million awarded to the qualified whistleblowers. The violations of the Commodity Exchange Act (CEA) reported through the whistleblower can include: ● manipulation of benchmarks and global foreign exchange rates, ● illegal off-exchange precious-metals transactions, ● disruptive trading of futures or swaps, including spoofing and false statements to the CFTC or National Futures Association, ● forex trading scams violating prior CFTC orders ● other types of fraud, market manipulations, and trade practice violations. These CFTC enforcement actions have involved industries from precious metals to cryptocurrency and involved penalty ...

Go to Top