SEC Rewards Whistleblower with $150,000 Payout

The SEC announced an award of over $150,000 to a whistleblower whose tips helped the SEC stop a scheme which was defrauding investors. No further details as to the scheme were provided. The order stated that the award to the whistleblower represented 30 percent of the money collected by the SEC in the successful enforcement action. This is the sixth whistleblower to be rewarded through the SEC's whistleblower program.

See: SEC Press Release; SEC Order Determining Whistleblower Award Claim. Related news: SEC Enforcement Advisor: SEC Announces Third Whistleblower Award (with C&F Memo) (with YouTube Video) (October 11, 2013) SEC Awards over $14 Million to Whistleblower (October 1, 2013); SEC Rewards Three Whistleblowers Who Helped Stop Sham Hedge Fund (August 30, 2013; Cadwalader Business Fraud Advisor: SEC Announces Second Set of Whistleblower Awards (July 3, 2013).

Click here to view the Cadwalader Enforcement Advisor authored by Bradley Bondi, Keith Gerver and Karen Woody.