By Tim Fernholz, Quartz (TNS)
An anonymous whistleblower who helped the Securities and Exchange Commission catch a mysterious bad actor was paid $279 million dollars as a reward for their assistance.
Under the Dodd-Frank financial reform law, whistleblowers who help the agency enforce its rules are entitled to between 10% and 30% of financial penalties over $1 million paid by the wrong-doer. In this case, the whistleblower appears to have caught a financial actor who was compelled to pay between $930 million and $2.7 billion to the SEC.
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