A whistleblower was rewarded up to 279 million dollars for having exposed the fraudulent actions of his employer. A record amount.
Jackpot for this whistleblower. A vigilant employee, this man, whose identity has remained confidential, revealed to the public the frauds from his employer in the United States. The latter was forced to pay more than 4 billion dollars in penalties, announced this Friday, May 5, the American stock market policeman (SEC).
For his part, the whistleblower was rewarded with 279 million dollars. This is “the highest reward amount granted in the history of our program” explained in a communiqué Gurbir Grewal, SEC Regulatory Compliance Officer.
According to him, this award “not only encourages whistleblowers to come forward with accurate information about possible breaches of securities laws, but also reflects the immense success of our whistleblowing program”.
Neither the identity of alert launcher, nor the name of his company will be revealed in order to protect his confidentiality. However, the SEC clarified that the watchful employee did not directly trigger an investigation by the authorities against his employer, but that his information allowed the charges to be extended.
A person communicating information unknown to the SEC, credible and in a timely manner can receive between 10% and 30% of the payments made by his company if it is well sanctioned.
Between 2021 and 2023, this SEC program had paid out $600,000 million in rewards.
2023-05-05 18:49:59
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