SEC Whistleblower Receives Roughly $700,000 Whistleblower Award
According to noted whistleblower lawyer Jason T. Brown, the SEC has stepped up enforcement and whistleblower awards for individuals that have provided crisp, targeted information that leads to enforcement action. This week the Securities and Exchange Commission (“SEC”) awarded almost $700,000 to an SEC whistleblower whose detailed information led to the return of money to harmed investors. That’s a healthy bounty for an individual who had the courage to come forth and do the right thing. One of the more generous provisions of the Dodd-Frank Act is if the informant utilizes an SEC Whistleblower law firm, the identity of the whistleblower may stay anonymous.
In the most recent case, the whistleblower internally reported the problem before contacting the SEC, which according to attorney and Former FBI Special Agent Jason T. Brown is not always the best route to proceed with before consulting with an attorney. The whistleblower had reliable, accurate information and continued to assist with the SEC investigation from start to finish.
Ever since the SEC established the whistleblower program over half a billion dollars has been given to whistleblowers who blow the whistle on conduct that runs afoul of securities laws and it’s analogue has had additional millions in whistleblower awards for individuals who have information regarding commodities frauds with the CFTC whistleblower program.
SEC Whistleblowers can be blowing the whistle on a wide variety of schemes, including, but not limited to pump and dump schemes, bust out schemes, boiler rooms, publishing of false information to move a stock price, using restricted funds for securities, failing to act with the best interests of the client, inside trading and many more violations. To find out if the information you have is likely to lead to an SEC whistleblower enforcement action, you should speak with a whistleblower law firm like the lawyers at Brown, LLC at (877) 561-0000 to obtain a free, confidential consultation about your rights.