Climbing the corporate ladder can be a soul-crushing grind. Even after years of successfully navigating office politics, probably compromising your values along the way so that the company can succeed, your reward is only more of the same.
Or perhaps not. Rather than going along with corporate malfeasance, or simply looking the other way when stumbling upon potential wrongdoing at the office, more and more individuals are choosing to blow the whistle.
The Securities and Exchange Commission operates a whistleblower program to help identify fraud and other violations of securities laws. Of course, lots of complicated regulations govern the SEC’s whistleblower program.
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The gist, though, is that anyone who voluntarily provides the SEC with original information about a violation of federal securities laws may be handsomely rewarded. The information must result in a successful enforcement action in which at least $1 million in sanctions is ordered. Assuming the necessary criteria are met, the whistleblower is entitled to an award of between 10% and 30% of the money collected.
Given the size of some of the fraudulent schemes being uncovered thanks to the SEC’s whistleblower program, a few of the awardees have become rich indeed. For instance, 2023 saw the largest whistleblower award in the history of the...
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