According to the press release from the SEC, the whistleblower provided a tip and additional information that helped SEC staff shape their investigative strategy, identify witnesses, and draft document and information requests. The whistleblower also internally reported concerns prior to submitting information to the SEC.


Creola Kelly, chief of the SEC’s Office of the Whistleblower, said, “The whistleblower in this case provided helpful information and substantial ongoing assistance, saving the SEC time and resources during its investigation.”


Whistleblower awards can range from 10% to 30% of the money collected for monetary sanctions that exceed $1 million. As set forth in the Dodd-Frank Wall Street Reform and Consumer Protection Act, the confidentiality of whistleblowers is protected, and the SEC doesn’t disclose any information that could reveal their identity.


Click here for more information about the whistleblower program and how to report a tip.

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