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December 19, 2022

A company outsider who submitted multiple anonymous tips to the SEC and the target company, which initiated an internal investigation based on the information, received a whistleblower award of $37 million.  The company reported the whistleblower’s information to the Commission, which then opened its own investigation.  Claimant submitted an additional tip to the Commission within 120 days that included the email that Claimant had sent to the company.  Claimant’s award was based on amounts recovered by the Commission and amounts recovered in a related action.  SEC

Tagged in: Financial and Investment Fraud, SEC Whistleblower Reward Program, Whistleblower Rewards,

December 12, 2022

The SEC approved a whistleblower award of $20 million to an anonymous individual who voluntarily provided original information to the Commission that significantly contributed to an investigation that had been previously opened based on a referral from the Division of Examinations.  While noting that much of the information provided by the whistleblower was already known to Enforcement staff, the individual provided some helpful new information, met with Enforcement Division staff multiple times, and remained cooperative throughout the investigation.  SEC

Tagged in: Financial and Investment Fraud, SEC Whistleblower Reward Program, Whistleblower Rewards,

November 28, 2022

An anonymous whistleblower received a $20 million award from the SEC, with the SEC finding that the whistleblower provided significant information and continuing helpful assistance in the Commission’s investigation.  The award order notes that the individual did not have information relating to one part of the enforcement action, and delayed reporting for two years after being involved for a short period in the conduct underlying part of the enforcement action, at the direction of their supervisor.  Four other claimants were denied any award related to the covered action.  SEC

Tagged in: Financial and Investment Fraud, SEC Whistleblower Reward Program, Whistleblower Rewards,

October 31, 2022

The SEC has awarded more than $10 million to a whistleblower who provided critical information and assistance that contributed significantly to a successful enforcement action.  In addition to providing important documents, the whistleblower also met twice with agency staff, resulting in charges that closely mirrored the whistleblower’s allegations, as well as significant funds being returned to harmed investors.  SEC

Tagged in: SEC Whistleblower Reward Program, Securities Fraud, Whistleblower Rewards,

August 9, 2022

The SEC has awarded two whistleblowers more than $16 million for their assistance in a successful enforcement action.  The first whistleblower, who received about $13 million, submitted information that sparked the investigation and later provided key witnesses and other critical information that helped move the investigation forward.  The second whistleblower, who received more than $3 million, later submitted new information that also aided the investigation.  SEC

Tagged in: SEC Whistleblower Reward Program, Securities Fraud, Whistleblower Rewards,

July 15, 2022

An anonymous whistleblower was awarded $3 million based on SEC findings that the individual, who was solicited to invest in a product, expeditiously contacted the SEC to report misrepresentations regarding the product.  That report prompted the Commission to open an investigation, during which the individual provided additional assistance.  SEC

Tagged in: Financial and Investment Fraud, SEC Whistleblower Reward Program, Securities Fraud,

May 6, 2022

The SEC awarded $3.5 million to 4 whistleblowers in a single covered action. Three joint whistleblowers provided staff with information that caused a new investigation to be opened, and a fourth whistleblower provided analytical insights of publicly available information that focused the staff’s attention on new allegations that advanced the investigation. SEC

Tagged in: SEC Whistleblower Reward Program, Securities Fraud, Whistleblower Rewards,

April 25, 2022

The SEC has awarded five whistleblowers a total of $6 million for their assistance in a single successful enforcement action.  According to the agency, one group of the whistleblowers provided key documents that prompted the agency to request additional documents from the respondent, while the second group provided firsthand accounts of the misconduct.  SEC

Tagged in: SEC Whistleblower Reward Program, Securities Fraud, Whistleblower Rewards,

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