Two whistleblowers were awarded $98 million for information and assistance to SEC investigations, according to the SEC. One whistleblower was awarded $82 million for information leading to the opening of an investigation as well as accompanying the investigation process.
The second whistleblower received an award of $16 million for contributing to one aspect of the investigation.
“Whistleblower information and cooperation play an integral role in the SEC’s enforcement efforts,” said Creola Kelly, Chief of the SEC’s Office of the Whistleblower. “Without these whistleblowers’ information, the violations would have been difficult to detect.”
These payments were made out of an investor protection fund mandated by congress. Whistleblower awards can range from 10% to 30% of the money collected when sanctions are higher than 41 million.
By Staff
