Former Company Officer Receives $500,000 Dollar Whistleblower Award for Reporting Fraud Case to SEC

11th March 2015

The Securities and Exchange Commission announced its first whistleblower award payout to a former company officer who reported original, high-quality information about a securities fraud that resulted in an SEC enforcement action with sanctions exceeding $1 million.

The SEC has now awarded 15 whistleblowers since its whistleblower program began more than three years ago. Payouts have totaled almost $50 million out of an investor protection fund established by Congress.

Whistleblower awards can range from 10 percent to 30 percent of the money collected in a case. By law, the SEC protects the confidentiality of whistleblowers and does not disclose information that might directly or indirectly reveal a whistleblower’s identity. 

Click for SEC release