Major Fraud Act of 1988

Major Fraud Act of 1988 - Amends the Federal criminal code to subject anyone who knowingly executes, or attempts to execute, any scheme or artifice to defraud the Government in any procurement of property or services of $1,000,000 or more to a fine of between $1,000,000 (for one count) and $10,000,000 (for multiple counts), ten years' imprisonment, or both. Establishes criteria for determining the amount of any such fine.

Sets a seven-year statute of limitations.

Provides a private right of action for any employee who: (1) is the subject of an adverse employment action because of lawful acts done by that employee in furtherance of a prosecution under this Act; and (2) was not a participant in the unlawful activity that is the subject of such prosecution. Specifies available remedies.

Directs the U.S. Sentencing Commission to: (1) promulgate guidelines, or amend existing guidelines, to provide for penalty enhancements where conscious or reckless risk of serious potential injury resulting from the fraud has occurred; and (2) consider assigning to such a defendant an offense level under Chapter Two of the sentencing guidelines that is at least two levels greater than that which would have been assigned had conscious or reckless risk not resulted from the fraud.

Precludes a contractor from recovering costs in connection with any proceeding brought by the United States or a State Government that relates to a violation of, or failure to comply with, any Federal or State law or regulation which results in an indictment by a Federal grand jury, conviction, assessment of a monetary penalty, civil or administrative liability, suspension, debarment, or any other similar result evidencing a violation or failure to comply with any Federal or State law or regulation.

Establishes within the Department of Justice additional Assistant U.S. Attorney and support staff positions for investigation and prosecution of fraud against the Government.

Authorizes appropriations.

Directs the Attorney General to report annually to the Congress with respect to the number of: (1) referrals of fraud cases by the Department of Defense and other sources; (2) open investigations of contractors; (3) attorneys, support staff, and investigative agents assigned; and (4) convictions, acquittals, and the sentences, recoveries, and penalties achieved.

Grants the U.S. District Court for the District of Columbia jurisdiction to hear and render judgment on any claim of a named individual against the United States for personal injuries allegedly incurred after an innoculation in 1963 by an employee of the Public Health Service.

Precludes a contractor from recovering costs in connection with any criminal, civil, or administrative proceeding brought by the Federal or State Government that results in a conviction, civil liability, the imposition of a fine or other monetary penalty, a suspension or debarment, or other similar result evidencing a violation or failure to comply with any Federal or State statute or regulation on the part of the contractor. Allows such recovery of costs where: (1) a case is resolved by consent or compromise pursuant to an agreement between the contractor and the United States to the extent specifically provided in such agreement; or (2) the head of the executive agency that awarded the contract determines, under regulations prescribed by such agency head, that the costs were incurred as a result of a specific term or condition of the contract, or pursuant to specific written instructions of the agency.

Authorizes a court to reduce the share of the proceeds of an action which an individual may receive under this Act if it finds that such action was brought by an individual who planned and initiated the violation upon which the action was based. Requires that anyone convicted of criminal conduct arising from his or her role in the violation be dismissed from the civil action and precluded from receiving any share of the proceeds of the action.