Saturday, July 28, 2012

Oil Company Accounting Fraud and USDOJ FFCA Press Release: Louis Dreyfus Energy Services Pays $4 Million to Resolve Allegations That It Violated the False Claims Act by Oil Company Accounting Fraud Lawyer

Oil Company Accounting Fraud Can Be the Basis of SEC Violations, Federal False Claims Act Lawsuits, Class Actions, Shareholder Actions, and other Oil Company Production Fraud Lawsuits by Oil Company Accounting Fraud Lawyer, Petroleum Accountant Whistleblower Bounty Lawyer, and Oil Company Accounting Fraud Whistleblower Lawyer Jason S. Coomer

Oil Company Fraud including Oil Company Accounting Fraud, Oil Company Royalty Fraud, Oil Company Tax Fraud, Oil Company Working Interest Fraud, and Oil Company Production Fraud are forms of corporate fraud that can result in qui tam lawsuits, shareholder lawsuits, bounty actions, class actions, and several other types of fraud litigation.  Petroleum professionals including petroleum accountants, petroleum executives, and other oil company employees with original information of significant oil company accounting fraud, oil company royalty fraud, oil company tax fraud, oil company working interest fraud, and/or oil company production fraud by a large oil company may be able to collect a large reward through several whistleblower laws. The key to obtaining a large whistleblower award is to make sure that as the whistleblower you are the first to file with sufficient evidence of significant fraud.  

USDOJ: Louis Dreyfus Energy Services Pays $4 Million to Resolve Allegations That It Violated the False Claims Act

Louis Dreyfus Energy Services has paid the United States $4,084,000 to settle allegations that it violated the False Claims Act by failing to pay money owed on natural gas acquired from the Department of the Interior, the Justice Department announced today.   Louis Dreyfus, which is based in Connecticut, is an energy company that is involved in merchandising, transportation, trading and storage of natural gas.
The settlement agreement resolves contentions by the United States that from December 2004 to March 2008, Louis Dreyfus Energy Services made false claims or misleading statements to the Department of the Interior involving contracts to buy natural gas produced from federal oil and gas leases in the Gulf of Mexico.   Starting in 2004, Louis Dreyfus agreed to pay the Interior Department for natural gas based on a price associated with the delivery of the gas at a fixed point along a natural gas pipeline. After its contracts with the Interior Department were executed, the company requested and received a discount in the price it would pay the Interior Department for the natural gas obtained under the contracts.   The United States contends that this price discount applied only when there was a complete or near-complete constraint in the natural gas pipeline such that Louis Dreyfus was unable to transport natural gas along the pipeline.   However, the energy services company claimed and obtained the price discounts even on days when it was able to ship natural gas along the pipeline.   Thus, the United States contends that Louis Dreyfus was not entitled to the price discounts that it sought and received from the Department of the Interior.

If you are the original source with special knowledge of oil company fraud and are interested in learning more about a potential oil company whistleblower lawsuit, please feel free to contact Texas Oil Company Accounting Fraud Lawyer, Jason S. Coomer or go to the following web pages: Oil Company Accounting Fraud Lawsuits or International Oil Company False Reporting Lawsuits and International Oil Company Government Corruption Lawsuits.

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