A pair of tipsters is sharing a US$6-million payout from the U.S. Securities and Exchange Commission (SEC).
The regulator awarded over US$6 million to joint whistleblowers that provided the SEC and another government agency with substantial cooperation that led to a successful enforcement action.
The SEC said that the duo’s cooperation included providing documents, participating in interviews and “identifying key individuals involved in the misconduct.”
“The whistleblowers’ information led to multiple successful government actions related to a complex scheme involving several individuals and tens of millions of dollars in ill-gotten gains,” said Jane Norberg, chief of the SEC’s Office of the Whistleblower.
The SEC has now awarded approximately US$728 million to 118 whistleblowers since issuing its first award in 2012.
Already this fiscal year (which started Oct. 1), the SEC has paid out more than US$166 million to 12 tipsters.
“Today’s award demonstrates the significant contributions whistleblowers make to investigations that can save the SEC and other government agencies substantial time and resources,” Norberg said.