“All three whistleblowers provided valuable information and assistance, which played a critical role in the SEC bringing an enforcement action and returning millions of dollars to harmed investors.”
The Securities and Exchange Commission has announced three awards totaling approximately $18 million to three whistleblowers whose information and assistance led to a successful enforcement action.
The first whistleblower provided the SEC with detailed and significant information that led to the opening of an investigation into a fraudulent scheme. Their assistance saved considerable staff time and resources, and had a significant impact on the overall success of the enforcement action.
The second and third whistleblowers’ information, which was provided later in the investigation, significantly contributed to the success of the enforcement action as well, the regulator stated.
There was a fourth whistleblower that claimed an award, but the information provided was already known to the SEC during the investigation. The government agency declined to award this particular whistleblower for that reason, according to its own rules.
Creola Kelly, Chief of the SEC’s Office of the Whistleblower, said: “All three whistleblowers provided valuable information and assistance, which played a critical role in the SEC bringing an enforcement action and returning millions of dollars to harmed investors.”
No money has been...
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