The Securities and Exchange Commission (SEC) announced awarding joint whistleblowers with nearly $50 million. The whistleblowers notified SEC staff of violations that involved highly complex transactions and would have been otherwise difficult to detect.
The joint whistleblowers provided assistance to the staff of the US regulator during the investigation. They met with them numerous times and provided them with voluminous detailed documents. The information provided by these individuals resulted in the return of tens of millions of dollars to harmed investors.
Jane Norberg, Chief of the SEC’s Office of the Whistleblower said:
Today’s award is the second largest in the history of the program, reflecting the tremendous contribution of these joint whistleblowers to our ability to recover funds for harmed investors. The SEC has now awarded over a quarter of a billion dollars to whistleblowers in the first seven months of this fiscal year alone, demonstrating the tremendous value of whistleblowers to our enforcement program.
