SEC Awards Whistleblower $3.5m after Tip Helped Bolster Investigation
Posted: Thu May 12, 2016 9:20 pm
A substantial award has been given by the United States (US) Securities and Exchange Commission (SEC) to an individual that helped the agency with an ongoing investigation, by providing a tip that returned $3.5m in compensation to the whistleblower, according to an official SEC press release.
The highly rewarded information was described as helping to provide additional evidence of wrongdoing to assist with strengthening the SEC’s existing case against the parties that are under investigation. Under law, the SEC keeps the identity of the whistleblower confidential.
While the agency said that whistleblowers should be encouraged to come forward and ... (read more)