Crowdfunding To Reward Whistleblowers

The whistleblower who brought down the secret Swiss banking model and served jail time is now crowdfunding for a pot of money to be rewarded to others who blow the whistle on corruption.

Trutheum is raising 3,000 ether (cryptocurrency) that will be used to pay to persons who provide evidence to a “request for truth” posted by another.

“Whistleblowers will only get their reward if the majority of the crowd is convinced by their tip and votes accordingly.”

The site said that it would not condone any illegal activity (ie, stealing data from one’s employer) and that the crowd would “weed out” bad actors and lies.

Note that the SEC recently rewarded almost $2.5 million to an employee of a domestic government agency.
https://www.swissinfo.ch/eng/incentivising-truth_crowdfunding-to-reward-whistleblowers/43349236?&ns_mchannel=rss&srg_evsource=gn

https://www.sec.gov/news/press-release/2017-130

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About JeffKoeppel

I am a corporate/securities attorney in the Washington, DC area. Prior to joining the firm, I was a Senior Attorney Advisor in the Division of Corporation Finance at the U.S. Securities and Exchange Commission. I am a member of the Bars of the States of Maryland, New York and the District of Columbia. You can also follow this blog on LinkedIn at: http://www.linkedin.com/pub/jeffrey-a-koeppel/0/63/5a9
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