On March 21st, the Seventh Circuit affirmed the district court's finding that Anchor Mortgage and its CEO lied when applying for federal guarantees of 11 loans in violation of the False Claims Act. The district court properly imputed to Anchor and the CEO the knowledge of a bank branch head who knew that loan applicants were submitting false down payment certifications. The CEO also knew that the bank falsely represented it had not paid any referral fees. However, the Seventh Circuit vacated the treble damages assessment, which used a gross trebling calculation. The award should be recalculated using a net trebling approach. U.S. v. Anchor Mortgage Corp.