Today, the Securities and Exchange Commission (SEC) announced a whistleblower award of $7 million given to an individual who provided information and assisted in an investigation.
The whistleblower award came as the result of a successful enforcement action in which the individual “provided extensive and sustained assistance, such as identifying witnesses.”
The whistleblower chose to remain anonymous through the proceedings, a protection granted to SEC whistleblowers under the Dodd-Frank Act.
“This $7 million award reinforces the fact that the Dodd-Frank Act whistleblower program is the backbone of protecting investors from unscrupulous fraudsters,” said whistleblower attorney Stephen M. Kohn. “The $394 million paid in awards since 2012 speaks for itself as to the importance of whistleblowers in detecting fraud.”
SEC press release: SEC Awards More Than $7 Million to Whistleblower
