Whistleblower Receives $63.8M for JP Morgan FHA Mortgage Fraud Settlement

Keith Edwards, a whistleblower who was terminated in 2008 from his assistant vice-president role at JP Morgan Chase, will receive $63,870,000 award for relating key facts to the government in connection with its investigation of JP Morgan for violations of the False Claims Act (FCA).

Mr. Edwards filed his FCA claim on behalf of the government in January 2013 and was subsequently joined by the U.S. Department of Justice (DOJ).  The complaint alleged that JP Morgan submitting mortgages to the Federal Housing Administration (FHA) and the Department of Veterans Affairs for insurance even though the mortgages were not qualified to receive government guarantees.