Whistleblower receives a reward from CFTC for exposing fraud

The Commodity Futures Trading Commission announced rewarding a whistleblower for providing information which led the Commission to open an investigation and a resulting successful reinforcement act. The whistleblower also provided extensive assistance, including key documents.

CFTC Director of Enforcement James McDonald said:

The violations would have been difficult to detect without the whistleblower’s information and assistance. This matter highlights the importance of the Commission’s Whistleblower Program to the agency’s enforcement efforts and its effectiveness in helping the Commission hold wrongdoers accountable.

Whistleblower receives $9 million award from CFTC

Whistleblower Office Director Christopher Ehrman added:

The whistleblower’s tip helped stop fraudulent activity that harmed main street investors. Rewarding that kind of assistance is especially gratifying.

So far, the US watchdog has awarded around $120 million to whistleblowers for their help since the first award was issued in 2014. The whistleblower awards are paid from the CFTC Customer Protection Fund, which was established by Congress.

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