United States of America Ex Rel. Michael Lissack v. Sakura Global Capital Markets, Inc. And Mitsui Taiyo Kobe Global Capital, Inc.

KRAVITZ, District Judge.

The relator in this case, Michael Lis-sack (“Lissack”), acting on behalf of the U.S. Government, sued the defendants (“Sakura”) under the False Claims Act for damages arising from alleged false statements and claims made by Sakura in connection with a “yield burning” scheme involving tax-free municipal bonds. The False Claims Act authorizes private citizens to sue on behalf of the United States to recover treble damages from those who knowingly make false claims for money or property upon the Government or who knowingly submit false statements in support of such claims…