July 31, 2015 Comments (0) Blog, Securities Fraud

SEC Awards Whistleblower $3 Million

(Last Updated On: July 31, 2015)
The Securities and Exchange Commission (SEC) recently announced they recently awarded a multi-million dollar payout to a whistleblower. The $3 million payout was the program’s third largest award. The whistleblower provided the SEC with specific and detailed information that helped the SEC crack a complex fraud, that may have otherwise been difficult for investigators detect.

The SEC did not announce the details of this particular case. However the SEC did say “The whistleblower’s initial tip also led to related actions that increased the whistleblower’s award.”

This most recent award goes to show that the SEC will pay well for original high-quality information. Whistleblower claims that lead to sanctions exceeding $1 million or more, will receive between 10%-30% of the money collected from a case. Since 2011, the whistleblower has paid out more than $50.

Information is easy to submit online through the SEC Tips Complaints and Referral portal. In order to submit a tip anonymously, you must be represented by an attorney. If you have information that you believe is of value to the SEC and would like to speak with an attorney, call the White Law Group at (312)238-9650.

The White Law Group is a national securities arbitration, securities fraud, and investor protection law firm with offices in Chicago, Illinois and Vero Beach, Florida.

For more information on The White Law Group, visit www.whitesecuritieslaw.com.

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