Tom Sandell, chief executive officer and chairman at Sandell Asset Management Corp., listens during a Bloomberg Television interview in New York, U.S., on Oct. 6, 2016. Photo: Christopher Goodney/Bloomberg
State and city officials have obtained the largest-ever recovery from an individual under the New York False Claims Act, reaching a $105 million settlement with Thomas Sandell, a billionaire hedge fund manager, in a qui tam whistleblower action that alleged Sandell had bilked the state and New York City out of taxes on $450 million in fees.
The whistleblower in the case, referred to as Tooley LLC in a settlement document and a 2018 complaint now made public, will take home $22.05 million, or 21%, of the government’s recovery, according to the document and Tooley’s lawyers at Kirby McInerney.
