The Securities and Exchange Commission today announced two whistleblower awards in connection with two separate enforcement actions. Both whistleblowers provided significant information that helped the SEC shut down two separate fraudulent schemes preying on retail investors. In the first action, the whistleblower alerted the agency to a fraudulent scheme. The SEC awarded the whistleblower more than $277,000. In the second action, the whistleblower, a harmed investor, provided critical information that enabled the SEC staff to recover assets that were later returned to victims. The SEC awarded the whistleblower $45,000.
“Both whistleblowers awarded today played a crucial role in helping the Commission protect Main Street investors,” said Jane Norberg, Chief of the SEC’s Office of the Whistleblower. “The information provided saved the SEC time and resources in conducting the investigations and assisted the SEC in returning money to harmed investors.”Read more here.