Search Site

CFTC Whistleblower Program Hauls In Seven-Figure Award to End 2019

In December, the U.S. Commodity Futures Trading Commission (CFTC) announced a $1 million-plus award to a person who submitted a tip to the agency with unique information that helped expose a securities fraud scheme and led to the CFTC filling charges.

According to the CFTC’s report, the whistleblower first provided the information through the company’s internal compliance program, which the employer submitted to another regulator, leading to that information ultimately being forwarded to the CFTC.

The award is noteworthy because this is an indicator that being the original source of information will still get a person a CFTC award even if another regulator passes that information on to the CFTC, so long as that tip leads to evidence of a violation that results in charges against the company or organization that allegedly committed the violation, and even if the reported conduct is not the basis of the charges that are ultimately brought.

In this particular case, the whistleblower identified potential wrongdoing, brought forth that information, and then investigators were able to use that knowledge and information as well as the whistleblower’s further assistance to uncover illegal acts in another area of operations.

CFTC whistleblower program going strong

The CFTC whistleblower program has not received as much coverage as the SEC whistleblower program, but it has picked up a lot over the last couple years and ended the year on a strong note. It first issued an award in 2014, and since then has awarded more than $100 million to whistleblowers. The covered actions taken by the agency associated with those awards have resulted in sanctions of more than $800 million.

To learn more about the steps you can take to submit critical information to the CFTC whistleblower program, contact an experienced whistleblower lawyer at Kardell Law Group.

Awards & Honors
Our Office
  • Dallas Office
    4514 Cole Ave
    Dallas, Texas 75205
    Phone: 214-306-8045
    Fax: 469-729-9926
As Seen In
In his new book, "Standing Up to China: How a Whistleblower Risked Everything for His Country," former client & Author, Ashley Yablon, quotes Attorney Steve Kardell about Whistelblower Law.
  • "Steve Kardell was terrific in representing me in some very adversarial discussions with Citigroup and also later represented me in my testimony before the Financial Crisis Inquiry Commission."  -Richard Bowen, Citigroup Whistleblower

  • "Incredible knowledge of employee related concerns and equally brilliant knowledge of health care regulations, standards of practice. I would recommend this firm to anyone."  -V.B.

  • "Reaching out to Steve Kardell was the best decision I made. His ability to provide immediate insight and direction was very powerful, and a huge relief during a very stressful time period. For anyone struggling with a whistleblower situation, I would highly recommend at least speaking with Steve. After a 10 minute call with him, I had a better understanding of what I was dealing with. Even better, he gave me some immediate hope. In the end Steve did a better job than I thought was possible. Steve was able to get in contact with people in my organization, that I didn’t have access to. Because of his years of experience, he already has contacts in many organizations in Dallas. The entire situation was handled peacefully. I was impressed by his ability to “keep the peace”–rather than creating a battle with the organization. The reason I didn’t reach out to a lawyer initially, was because I thought it would mean an immediate end to any hope of a positive relationship with the company. Steve was able to address my concerns, and in the end I was able to continue to work for them."  -KS

  • "Never thought my career would end like it did after 30 years of service. I was part of the first round of the so called reduction of force. I asked myself how can I be part of this with 30 years of seniority. How did they pick these 90 plus employees? Now, the culture of this organization made you question every decision they made. It wasn’t what you knew it’s was a culture of who you know. Nonetheless, I did not accept their severance package. I immediately starting looking for an attorney who would take on my case. After the initial call to Steve I had hope again. He was open and honest about everything and reassured me he would do his best for me, and he did. I had an awesome outcome. Thanks Steve you’re the best."  -S.S.