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Apr 9, 2018 · Philly.com. Updated April 9, 2018. David Danon says "on multiple occasions" that he warned his boss that Vanguard Group was underpaying its taxes. Nearly five years after he left Vanguard...
Jun 9, 2023 · by Joseph N. DiStefano. Published Jun. 9, 2023, 3:04 p.m. ET. Ten years after lawyer David Danon says he was fired after reporting illegal tax-avoidance schemes to his supervisors at the Vanguard Group, he and the company have agreed to mediation to try to settle his wrongful termination lawsuit.
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- Darkness Then Silence
- No Checks on The System
- Resources and Resentment
Danon, a former in-house tax counsel for the Vanguard Group, makes similar claims in his July petition over the SEC’s lengthy delay in his case. He filed a whistleblower complaint in May 2013, around the time Vanguard fired him over what he claims were his internal complaints over an illegal “slush fund” set up to avoid taxes and harm its investors...
In court documents and interviews, attorneys argue that the agency’s secrecy and inconsistency hurt the program. Maybe some seemingly contradictory denial and award decisions are justified, but because the orders and decisions are all done in secret, there is no way to make sure the awards are impartial, they argue. When cases are appealed, SEC sta...
To be sure, some huge awards have gone to whistleblowers. In September 2021, a client of former SEC senior counsel Rebecca Katz, now at Motley Rice, received $110 million, and another of her clients received $36 million. Clients of former SEC assistant chief litigation counsel Jordan Thomas, who helped create the whistleblower program before going ...
- jholland1@bloombergindustry.com
- Senior Investigative Reporter
Jul 29, 2022 · David Danon at his Tredyffrin Township home in 2014, after he was fired from his position as a tax lawyer by Vanguard Group, the Malvern investment giant. He says he was terminated for alleging large-scale tax fraud by Vanguard to federal authorities. On July 22, 2022, Danon filed a demand in federal court seeking payment from the Securities ...
Sep 4, 2014 · In a lawsuit made public in July, Danon alleged that Vanguard's tax avoidance and a lack of regulatory oversight have cost federal and state governments more than $1 billion. Danon told the...
Dec 7, 2014 · Whistleblower David Danon says there's a good reason for Vanguard's growth. Danon alleges that the fund company illegal manipulated transfer pricing to keep costs - and taxes - artificially...
Apr 14, 2017 · The U.S. Court of Appeals for the Third Circuit remanded former Vanguard in-house counsel David Danon’s lawsuit back to the U.S. District Court for the Eastern District of Pennsylvania on April 12. The appeals court ruled that an issue of fact remains to be determined by the district court concerning Dannon’s claim of retaliatory firing ...
