The Securities and Exchange Commission has awarded its largest whistleblower award ever, worth $279 million, to an unidentified person who alerted the SEC to misconduct at a company that was already under investigation, according to the Wall Street Journal .
In keeping with government policy, the whistleblower and the company they blew the whistle on are both unnamed to protect the individual. The SEC credits the whistleblower with “expanding its probe and for providing ongoing assistance through written submissions and interviews” according to the Journal.
Whistleblower awards are typically 10-30% of fines collected from civil enforcement actions resulting from a tip. The previous record for a whistleblower’s payout was $114 million, less than half of the recent award.
The SEC noted that […]
Read the Whole Article From the Source: headlineusa.com
- Gold SKYROCKETED during Trump’s first term and is poised to do it again. Find out how Genesis Precious Metals can help you secure your retirement with a proper self-directed IRA backed by physical precious metals.