A lawsuit accuses the SEC and former chairman Jay Clayton of using false declarations to deny a whistleblower's award claim.
Andrew Delaney has taken the SEC to federal court, alleging the agency torpedoed his whistleblower award by relying on two internal staff declarations that directly contradicted each other — and the agency's own records.
The suit, filed April 13 in the Northern District of Texas (Delaney v. U.S. Securities and Exchange Commission, et al., Case No. 4:26-cv-00453), also names former SEC Chairman Walter Joseph Clayton III as a defendant in his individual capacity.
According to the filing, the dispute stretches back to January 2016, when Goldman Sachs contracted Delaney in connection with politically exposed accounts in Southeast Asia. By June 2017, he had submitted whistleblower information to the SEC, and from October 2017 through February 2018, SEC staff communicated with him and requested additional information following his submission.
Then came the 1MDB resolution. In October 2020, the Department of Justice, in coordination with the SEC, entered into a Deferred Prosecution Agreement with The Goldman Sachs Group, Inc. in connection with the 1MDB investigation.
The lawsuit alleges the SEC then relied on contradictory declarations from its own attorneys to deny Delaney's claim. A September 2021 declaration from SEC attorney Eric Heining stated that Delaney's submission was not voluntary, that the agency received no information from him, and that...
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