SEC Makes Largest-Ever Whistleblower Awards
Posted 03/20/18
The Securities and Exchange Commission yesterday announced its highest-ever Dodd-Frank whistleblower awards. According to the SEC press release trumpeting the landmark awards under the SEC whistleblower program, two whistleblowers will share nearly $50 million, and a third whistleblower will receive more than $33 million. The previous high was a $30 million award in 2014.
Consistent with its strong commitment...
By the C|C Whistleblower Lawyer Team
In a landmark settlement, the Securities and Exchange Commission (SEC) announced yesterday that it has charged New York Stock Exchange LLC (NYSE) and two affiliated exchanges in connection with five separate investigations into several regulatory failings, including the first ever charge based on a violation on Regulation Systems Compliance and Integrity (Reg SCI)...
By the C|C Whistleblower Lawyer Team
On Wednesday, the Securities and Exchange Commission filed a lawsuit against Jon E. Montroll and his former company, BitFunder, alleging violations of the anti-fraud and registration provisions of the federal securities laws. In parallel criminal proceedings, the U.S. Attorney’s Office for the Southern District of New York charged Montroll with perjury and obstruction of...
By the C|C Whistleblower Lawyer Team
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By the C|C Whistleblower Lawyer Team
The Department of Justice today announced that on Nov. 9, the Madoff Victim Fund began its initial distribution of $772.5 million in funds forfeited to the U.S. Government in connection with the Bernard L. Madoff Investment Securities LLC fraud scheme. These funds will be sent to 24,631 victims across the globe. This distribution represents the first in a series of payments that...
By the C|C Whistleblower Lawyer Team
The SEC announced that a whistleblower has earned an award of more than $1 million for providing the SEC with new information and substantial corroborating documentation of a securities law violation by a registered entity that impacted retail customers.
“Today’s award reflects the impact that whistleblower information can have in uncovering violations that harm the retail...
By the C|C Whistleblower Lawyer Team
The SEC charged a Westchester, New York-based investment adviser with fraud stemming from lies to retail investors about the value of their investments in a Ponzi-like scheme.
The SEC alleges that, starting in approximately 2010, Michael Scronic began to raise money from at least 42 friends and acquaintances, many of whom were from his suburban community, in order to invest...
By the C|C Whistleblower Lawyer Team
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