$8 Million Each for Two SEC Whistleblowers, SEC Hits $1 Billion Thanks to Tipsters. Exposing Misconduct.

$8 Million Each for Two SEC Whistleblowers, SEC Hits $1 Billion Thanks to Tipsters

December 21, 2017

The SEC does the best job of any government agency when it comes to ensuring whistleblower identities remain confidential. The recent awards are not the exception. All we know is that five different individuals submitted information to the SEC exposing misconduct by a company in the securities industry.

After careful consideration, the SEC established that only two of the whistleblowers had provided original information, which made them eligible for an award.

The two anonymous whistleblowers offered critical evidence that enabled the SEC to bring an enforcement action, including substantial monetary sanctions, against the unidentified wrongdoer. Enforcement actions of this type have now surpassed the $1 billion threshold in terms of financial remedies collected from fraudsters.

Read more here.
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