In three orders, the SEC announced the award of $10.4 million to several whistleblowers for information that led to three different enforcement actions.
- In the first order, two whistleblowers collected a total of $7.5 million. Both individuals offered important new information for an ongoing investigation regarding fraudulent activity in several geographic areas. Additionally, the first whistleblower received a secondary award for contributing to an enforcement action from another agency.
- The second order whistleblowers received more than $2.4 million for information that led to a successful SEC enforcement action. The agency opened its investigation based on the first whistleblower’s information, which included important evidence. Information from the 2nd whistleblower greatly aided and furthered the investigation.
- Finally, in the third order, three individuals shared an award of $435,000. The first two whistleblowers were responsible for alerting the SEC to the fraudulent activity that led to the investigation. Both contributed and continued offering assistance while the investigation was ongoing. The third individual also offered helpful information that was meticulous, comprehensive and valuable to SEC staff. This information was provided early in the investigation and greatly assisted the SEC staff in developing the case.
Since its inception in 2012, the SEC has now awarded $1.2 billion in awards and bounties to 233 whistleblowers worldwide. These are whistleblowers with inside knowledge of frauds, deceptions, an illegal activity that should be reported. As always, identifying details of each whistleblower and case is kept confidential under the Dodd-Frank Act.
Retaining Experienced SEC Whistleblower Attorneys
Whistleblowers help everyone by notifying authorities of conduct that harms the public, while also earning financial compensation for themselves. Hiring experienced SEC counsel will greatly increase your chances of the SEC initiating an investigation 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 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 SEC whistleblower attorneys can help you if you have information regarding securities or investment fraud, violations of federal securities laws, Ponzi Schemes, false filings, market manipulation, or other misconduct. You must provide timely, credible, and original information or analysis in order 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 an SEC bounty. Because we get paid only if you do, we have the incentive to help you collect the maximum award available.