SEC awards $14 million to whistleblower

Securities SEC Enforcement Whistleblower Investigations

On March 11, the SEC announced that it awarded a whistleblower nearly $14 million for exposing ongoing fraud by publishing on online report. According to the redacted order, the whistleblower voluntarily provided original information and prompted the opening of an investigation, which resulted in a successful enforcement action against the company and its CEO and the return of millions of dollars to harmed investors.

The SEC has awarded approximately $1.2 billion to 249 individuals since issuing its first award in 2012.