SEC Awards $125,000 to Whistleblower

The Securities and Exchange Commission today announced an award of about $125,000 to a whistleblower whose information and assistance helped both the SEC and another agency bring successful actions against the perpetrator of a fraudulent securities offering. “The whistleblower’s tip helped stop a fraudulent scheme that preyed on a vulnerable investor community,” said Jane Norberg, Chief of the SEC’s Office of the Whistleblower. “Whistleblowers like the individual receiving the award today provide a valuable public service, and we encourage others to come forward with information regarding possible securities laws violations.” The SEC has awarded approximately $501 million to 85 individuals since issuing its first award in 2012. All payments are made out of an investor protection fund established by Congress that is financed entirely through monetary sanctions paid to the SEC by securities law violators.