In a recent press release, the Commodities Futures Trading Commission (CFTC) announced $15 million in bounties awarded to two whistleblowers for individual cases.
In the first case, a whistleblower affiliated with a company notified the CFTC of activity that was harming its customers. The CFTC opened an investigation and discovered the information to be credible and original. The individual offered continual assistance, saving CFTC staff resources and time. This included assisting staff with interpreting vital evidence, including another witness to corroborate the claims.
During the investigation, the whistleblower’s information contradicted and made more sense than the company’s official explanation. The CFTC increased its analysis of the activity and the harm being done to the customers under Section 23 of the Commodities Exchange Act. Overall, this whistleblower’s information was crucial to the successful investigation and enforcement action.
In the second case, the whistleblower also voluntarily provided original information to the CFTC that led to a successful enforcement action. The individual also helped CFTC staff interpret vital information and offered ongoing assistance as requested. This included additional information that led to the CFTC opening additional lines of inquiry that were also ultimately successful.
Without this whistleblower’s information, the CFTC may not have known about the violations of Section 23 of the Commodities Exchange Act. This whistleblower’s assistance helped conserve agency resources and resolve the investigation and covered action.
CFTC’s whistleblower awards are paid from the Congress-established CFTC’s Customer Protection Fund. The awards are taken from monetary sanctions and fines collected by companies and other wrongdoers. None of the awards come from the funds of defrauded customers.
Retaining Experienced CFTC Whistleblower Attorneys
Whistleblowers help everyone by notifying the CFTC of conduct that harms the investing public, while also earning financial compensation for themselves. Hiring experienced counsel may greatly increase the probability that an investigation will be initiated based on your information. If you wish to remain anonymous, you must be represented by an attorney, who will submit everything on your behalf.
Silver Law Group and the Law Firm of David R. Chase jointly have experienced SEC whistleblower lawyers, including a former SEC Enforcement attorney on the team, so you will always have guidance throughout the process. Our CFTC whistleblower attorneys can help you if you have information regarding securities or investment fraud, violations of federal securities laws, false filings, market manipulation, or other misconduct. You must provide timely, credible, and original information or analysis to be eligible.
Contact us through our online form or at (800) 975-4345 for a consultation. Our attorneys work on a contingency fee basis. This means that it costs you nothing to hire us, and we collect our fees only if you receive a CFTC bounty. Because we get paid when you do, we have the incentive to help you collect the maximum award available.