Securities Fraud Whistleblower Receives $50,000 Reward

Thumbnail image for whistle.jpgToday, the Securities and Exchange Commission (SEC) issued their first payout under the year old Whistleblower Program established by the SEC to prevent securities fraud. The recipient of the first payout will receive $50,000, which represents 30% of the amount collected by the SEC. Rewards can range between 10 – 30% depending upon a variety of factors. The recipient of the $50,000 reward has elected to remain anonymous. The SEC denied an award request from a second individual was declined after the SEC determined that the information provided did not contribute significantly to the SEC’s investigation. Although this is a relatively small award, it is hoped that more individuals will be encouraged to report securities fraud as larger rewards get reported.

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