Securities Fraud Archives - Constantine Cannon

Partner Mary Inman joins Shaifali Joshi-Clark of the Ontario Securities Commission’s Whistleblower Office to discuss the OSC’s whistleblower reward program at Whistleblowing Canada Research Society event “The Expansion of Whistleblower Reward Programs in the U.S., Canada and Globally.”

Posted 04/30/21

On March 17, 2021, Constantine Cannon whistleblower partner Mary Inman joined Shaifali Joshi-Clark, a senior forensic accountant in the Whistleblower Office of the Ontario Securities Commission (“OSC”), as a co-panellist for a webinar entitled “The Expansion of Whistleblower Reward Programs in the U.S., Canada and Globally,” organised by Whistleblowing Canada Research Society (“WCRS”) and moderated by...

Tagged in: CFTC Whistleblower Reward Program, FCA Federal, International Whistleblowers, SEC Whistleblower Reward Program, Securities Fraud, Whistleblower Rewards,

When the Deli’s Not Just a Deli

Posted 04/28/21
By Sarah “Poppy” Alexander

A market mystery recently caught the attention of financial journalists and the public more generally: a New Jersey deli that is seemingly never open and reports minimal profits is—on paper at least—worth $100 million after issuing public shares. The shareholders are few, and mostly in China. The owners are local (the revered wrestling coach) and not (a father-son investor duo with a history of shady...

Tagged in: Financial and Investment Fraud, Insider Trading, Money Laundering, Securities Fraud,

April 23, 2021

The SEC has granted awards totaling more than $3 million to two whistleblowers whose information led to two separate enforcement actions. The first whistleblower was awarded approximately $3.2 million for helping to conserve agency resources by identifying key issues to focus on and providing subject matter expertise. The second whistleblower was awarded more than $100,000 for significant information and ongoing assistance that helped stop an ongoing fraud. SEC

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

Jane Norberg Steps Down After Landmark Run As SEC Whistleblower Chief

Posted 04/16/21

Securities and Exchange Commission Decisions and Reports Book Volumes

Jane Norberg, Chief of the SEC's Office of the Whistleblower, will step down this month after five groundbreaking years. Norberg played a pivotal role in shaping the SEC Whistleblower Program into a model for how empowering whistleblowers can revolutionize government enforcement. Her tenure brought record payouts to whistleblowers, a streamlined award process, and a firm stand against any attacks on the public’s...

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

As SEC Whistleblower Chief Norberg Moves On, the Agency Reinforces Its Warm Embrace of Whistleblowers

Posted 04/16/21

With the SEC's recent announcement that Jane Norberg will be stepping down this month as the head of the SEC Whistleblower Office, the agency is losing one of its greatest whistleblower champions. As the agency so prominently reported, the Whistleblower Program under Norberg's tenure made roughly $650 million in whistleblower awards and reached a host of other milestones. This included nine of the Top-10 awards in...

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

April 15, 2021

The SEC has awarded two whistleblowers a joint award of over $50 million for providing information, voluminous documents, and substantial assistance that led to the return of tens of millions of dollars to harmed investors. According to the SEC, the fraud scheme at issue involved highly complex transactions that would have been difficult for the agency to detect. SEC

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

April 9, 2021

The SEC has awarded approximately $2.5 million to an individual who provided key information and evidence regarding a breach of fiduciary duties to investors. The whistleblower’s assistance contributed substantially to a successful enforcement action. SEC

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

March 29, 2021

The SEC has awarded an anonymous whistleblower $500,000 based on recoveries in a covered action and a related action that resulted in the shut-down of an ongoing fraudulent scheme. The whistleblower first reported the alleged misconduct to their employer, using the employer’s internal compliance procedures. Then, within 120 days of reporting the violations internally, the whistleblower submitted a TCR to the SEC. According to the SEC, the whistleblower provided significant information that prompted it to open an investigation, and provided ongoing assistance to Commission staff. Separately, the employer began an internal investigation and ultimately made a report to a government agency. Because the whistleblower reported internally and to the SEC within 120 days of their internal report, the SEC applied its “safe harbor” rule and treated the whistleblower’s SEC submission as if it had been made on the day that the whistleblower reported internally. SEC

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

Catch of the Week: Founders of Poop-Testing Startup uBiome Face Fraud Charges

Posted 03/24/21

San Francisco-based uBiome and its founders Jessica Richman and Zachary Apte claimed they were “inventing the microbiome industry” and “making products that improve people’s lives.” Once considered a Silicon Valley success story, today, uBiome is bankrupt and its founders face various federal securities fraud and related criminal conspiracy charges. The biotech startup sold home medical tests including...

Tagged in: Catch of the Week, Criminal Proceedings, Improper Medical Facility, Medical Billing Fraud, Securities Fraud,

Partner Mary Inman discusses SEC whistleblower reward program and Reenvisioning Whistleblowers as Forward Indicator of Risk at Stanford Rock Center “Whistleblowers, Ethics and Compliance” Event

Posted 03/19/21

On January 19, 2021, Constantine Cannon partner Mary Inman joined several esteemed co-panelists to discuss the recent amendments to the SEC Whistleblower program’s rules, SEC whistleblowers’ impact on securities law enforcement, and the nature and frequency of corporate whistleblowing in the “Whistleblowers, Ethics and Compliance” event organized by Stanford’s Rock Center for Corporate Governance. The...

Tagged in: International Whistleblowers, Multiple Whistleblowers and First-to-File, SEC Whistleblower Reward Program, Securities Fraud, Whistleblower Rewards,

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Securities Fraud

Partner Mary Inman joins Shaifali Joshi-Clark of the Ontario Securities Commission’s Whistleblower Office to discuss the OSC’s whistleblower reward program at Whistleblowing Canada Research Society event “The Expansion of Whistleblower Reward Programs in the U.S., Canada and Globally.”

When the Deli’s Not Just a Deli

April 23, 2021

Jane Norberg Steps Down After Landmark Run As SEC Whistleblower Chief

As SEC Whistleblower Chief Norberg Moves On, the Agency Reinforces Its Warm Embrace of Whistleblowers

April 15, 2021

April 9, 2021

March 29, 2021

Catch of the Week: Founders of Poop-Testing Startup uBiome Face Fraud Charges

Partner Mary Inman discusses SEC whistleblower reward program and Reenvisioning Whistleblowers as Forward Indicator of Risk at Stanford Rock Center “Whistleblowers, Ethics and Compliance” Event

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