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New SEC Whistleblower Awards

The SEC whistleblower program has generated significant awards to individuals who provide original information that leads to successful SEC enforcement actions with total monetary sanctions exceeding $1 million. The program has resulted in more than $2 billion in financial penalties, and awards in excess of $300 million.

The SEC just announced two awards in connection with two separate enforcement actions.  Both individuals provided significant information that helped the SEC shut down two separate fraudulent schemes preying on retail investors.  In the first action, the whistleblower alerted the agency to a fraudulent scheme.  The SEC awarded the whistleblower more than $277,000.  In the second action a harmed investor provided critical information that enabled the SEC staff to recover assets that were later returned to victims.  The SEC awarded the whistleblower $45,000.

Individuals who have information can submit a whistleblower tip anonymously through an attorney, but all tips should be filed with the assistance of an experienced attorney. Tips that are researched, properly written and timely submitted have a greater chance for success.

Sallah Astarita & Cox has successfully represented clients in presenting their information, and obtaining an award, all without any upfront costs or fees to the client. If you think you have information that could lead to a claim, call the firm st 212-509-6544 to speak to a whistleblower attorney.

Source: | SEC Awards Whistleblowers Whose Information Helped Stop Fraud

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