Whistleblowers Profit From Reporting Crime

Speaking of whistleblowers, the Securities and Exchange Commission recently released its Annual Whistleblower Report announcing that it has been pretty successful.

Screen Shot 2019-11-26 at 9.39.24 AM

“Since the program’s inception, the SEC has ordered wrongdoers in enforcement matters brought with information from meritorious whistleblowers to pay over $2 billion in total monetary sanctions, including more than $1 billion in disgorgement of ill-gotten gains and interest, of which almost $500 million has been, or is scheduled to be, returned to harmed investors.”

And during that time, “the Commission has awarded approximately $387 million to 67 individuals.”

Just this year, the highest award to one person was $37 million.

So, while crime may pay, turning in the criminal may pay even better.

https://www.sec.gov/files/OW_2019AR_FINAL_1.pdf

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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