The Securities and Exchange Commission last week announced an award of more than $5.5 million to a whistleblower who provided critical information that helped the SEC uncover an ongoing scheme.

According to the SEC order, the whistleblower was employed at the company involved in the wrongdoing and reported the information directly to the SEC, which brought a successful enforcement action to end the scheme.

SEC enforcement actions from whistleblower tips have resulted in more than $904 million in financial remedies. The SEC’s whistleblower program has now awarded approximately $142 million to 38 whistleblowers since issuing its first award in 2012.

 

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