The U.S. Securities and Exchange Commission (SEC) has awarded more than US$3.5 million to three individuals who acted as whistleblowers.
In one order, the SEC awarded approximately US$2 million to a person who alerted staff to ongoing fraud that led to an investigation.
“The whistleblower also participated in multiple voluntary interviews, and provided documents and additional information that saved staff time and resources,” the SEC said in a release.
In a separate order, the commission awarded two individuals with approximately US$1 million and US$500,000, respectively. The two whistleblowers acted independently. The person who received the larger payout offered “information and cooperation that was more impactful to the overall success of the case,” the SEC said.
“Today’s whistleblowers not only stepped forward to report suspicious conduct, but also continued to provide critical additional assistance,” said Emily Pasquinelli, acting chief of the SEC’s Office of the Whistleblower, which has awarded approximately $950 million to 193 individuals since 2012.