On February 28, the U.S. Securities and Exchange Commission (SEC) Office of the Whistleblower posted five new Notices of Covered Actions (NoCAs). Each NoCA relates to a successful enforcement action and signals that individuals may now file whistleblower award claims for those cases.
Through the SEC Whistleblower Program, qualified whistleblowers, individuals who voluntarily provide the SEC original information that leads to a successful enforcement action, are entitled to a monetary award of 10-30% of funds recovered by the government. By posting an NoCA, the SEC is not making any determination that the relevant case was aided by a whistleblower tip. Rather, the SEC posts an NoCA for any enforcement action that results in monetary sanctions exceeding $1 million.
The newly posted NoCAs cover a wide variety of types of securities fraud including multiple types of offerings fraud. One NoCA relates to an enforcement action in which the SEC charged three individuals and several related entities with conducting a multi-million dollar offering fraud. According to the SEC, Texas resident and real estate developer Phillip Michael Carter, along with Bobby Eugene Guess and Richard Tilford, “raised almost $45 million from over 270 investors across the United States by selling short-term, high-yield promissory notes issued by a number of shell companies intentionally named to confuse investors.”
The second NocA relates to an enforcement action taken by the SEC against four...
ANKARA — US President Donald Trump made a series of “false” and “uncorroborated” claims about the Iran conflict and his foreign policy record during a recent press conference, according to a fact ...