SEC issues $50,000 in first whistleblower award

Recipient who provided evidence of multimillion-dollar securities fraud scheme remains anonymous

The Securities and Exchange Commission (SEC) yesterday issued the first payment under the whistleblower program it established in August 2011.

According to an SEC press release, the agency awarded $50,000 to an unnamed whistleblower for tipping it onto a multimillion-dollar securities fraud scheme. The agency says the whistleblower’s tipoff allowed it to launch a speedy investigation and led to a court ordering more than $1 million in sanctions.

Ashley Post

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