SEC Awards Over $500,000 to Two Whistleblowers

The Securities and Exchange Commission today announced an award of over $500,000 to two whistleblowers whose tips revealed an ongoing fraud and resulted in multiple SEC actions and a related action from another government agency. Both whistleblowers provided substantial, ongoing assistance that conserved the agencies’ time and resources. “This case demonstrates once again the value of the whistleblower program in helping to protect investors, and the Commission’s continued commitment to rewarding individuals who provide high-quality tips,” said Jane Norberg, Chief of the SEC’s Office of the Whistleblower. “The timely reporting of credible information by these whistleblowers provided the Commission the opportunity to quickly investigate and address misconduct that was actively harming investors.” The Commission has awarded approximately $753 million to 140 individuals since issuing its first award in 2012.