Search Site
Menu
SEC Awards Nearly $1 Million to Whistleblower Who Provided High-Quality Tip

The U.S. Securities and Exchange Commission (SEC) announced in December that it was awarding a whistleblower with more than $900,000 for a tip that allowed the agency to bring multiple large enforcement actions against certain entities.

The award marked the second in the span of a week — and the final award handed out in what was a record-breaking 2016 for the Office of the Whistleblower’s whistleblower reporting program. The SEC tends to release only limited information about any individual case, but this particular whistleblower provided the agency with a high-quality tip that helped end a fraudulent scheme in a corporate environment.

The Chief of the SEC’s Office of the Whistleblower, Jane Norberg, voiced her pleasure with the way the whistleblower program has encouraged tipsters to come forward and assist the government in cracking down on fraud and wrongdoing.

Filing a whistleblower claim with the SEC

This award was the 37th the SEC’s Office of the Whistleblower has provided since the inception of the program in 2012. At the time the award was given to the whistleblower (there has been another award since), there had been more than $136 million awarded to these whistleblowers, all of whom provided the agency with unique, useful information that led to successful enforcement actions.

Whistleblowers are eligible to receive awards ranging from 10 to 30 percent of the money collected if such sanctions are worth more than $1 million. All the payments to these whistleblowers come from an investor protection fund, which is funded entirely by sanctions paid to the SEC.

For further guidance on how you can file a whistleblower claim in the SEC’s program, contact an experienced Dallas whistleblower attorney at Whistleblower Law for Managers.

Honors
Our Office
  • Dallas Office
    4514 Cole Ave
    #600
    Dallas, Texas 75205
    Phone: 214-306-8045
    Fax: 469-729-9926
Testimonials
  • "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.

FOLLOW US
Facebook Twitter Linkedin RSS Feed JD Supra