The SEC has announced its award of $6 million to joint whistleblowers who offered credible information on violations of US securities laws. Their assistance led the Commission’s Division of Examinations (Exams) to open an examination based on the tips and information provided. In the interest of confidentiality, the SEC did not disclose the number of the whistleblowers. Continue reading
Ponzi Schemes Whistleblowing
If it sounds too good to be true, it usually is. It is an investment opportunity that offers no risk, high returns, or other incredible claims and is just a can’t-miss way to make more money. Unfortunately, many people get lured into an “easy money” scenario that is nothing more than a fraud.
Ponzi schemes are the most popular ways fraudsters separate people from their money. Promises of “no risk, high/guaranteed returns” are just some of the hallmarks of the Ponzi scheme since its invention by Charles Ponzi in the 1920s. Other hallmarks include a missing business plan, vague explanations for how it operates, and lack of accountability. Continue reading
Ponzi Scheme SEC Whistleblower Attorneys
If you’ve become aware of a Ponzi scheme, your first instinct may be to disclose the information and stop the fraud. But how do you know who to tell? What do you do next? Who can answer your questions?
The United States Securities & Exchange Commission (SEC) established its Office of the Whistleblower in 2011. Anyone with original information on a Ponzi scheme or other fraud can report this information to the SEC and alert the agency to the misconduct. SEC whistleblowers may be eligible to receive a monetary award following a successful enforcement action. Continue reading
Scott Silver And David Chase Offer SEC Whistleblower Predictions For 2025
SEC whistleblower attorneys Scott Silver and David Chase, recently authored an article for law.com to discuss their predictions for the SEC’s Whistleblower program during the second Trump administration.
With the new administration, changes come to nearly every part of government, and the SEC is no exception. President Trump has nominated former SEC commissioner Paul Atkins to replace current SEC chair Gary Gensler. No hearing has yet been scheduled for Atkins, but he is expected to be confirmed. Continue reading
Ponzi Scheme SEC Whistleblower Award
Do you have information about a Ponzi scheme? You could be eligible for a whistleblower award from the SEC for your knowledge and information.
Ponzi schemes are infamous for promising high returns in a short time. Like most financial crimes, the scheme’s operators take investor funds and leave the investor with little to nothing. From the original scheme from Charles Ponzi to Bernie Madoff’s massive fraud, any Ponzi scheme uses the same basic framework: Continue reading
SEC Whistleblower Program: What to Expect Under the Trump Administration
David R. Chase and Scott Silver co-authored an article for the Daily Business Review that discusses how the Trump administration will impact the SEC Whistleblower Program.
Click here to read the full article.
Two Sigma Settles SEC Charges
New York-based investment advisors Two Sigma Investments LP and Two Sigma Advisers LP have settled SEC charges and repaid funds after a researcher made unauthorized changes to the firm’s investment models used to make investment decisions. Known collectively as “Two Sigma,” the firm paid $90 million in civil penalties to settle the SEC claims, then voluntarily repaid $165 million to affected funds and client accounts. Continue reading
CFTC Awards Two Whistleblowers Nearly $4M
The Commodities Futures Trading Commission (CFTC) has announced an award of nearly $4 million to two whistleblowers who notified the agency of a company’s misconduct.
Both individuals provided sufficient original information to lead to a successful enforcement action. Whistleblower #1 initially notified the CFTC of this misconduct and supplied key information. Continue reading
If You’re Aware Of A Ponzi Scheme Or Investment Fraud, Consider Blowing The Whistle To The SEC
If you have knowledge of a Ponzi scheme or other investment fraud, you may be able to help stop the fraud and earn financial compensation for yourself by submitting a whistleblower tip to the Securities and Exchange Commission (SEC). Continue reading
Seven Companies Fined $3M By The SEC For Whistleblower Violations
The SEC recently reached a $3 million collective settlement with seven public companies charged with violating whistleblower protection Rule 21F-17(a). This rule prohibits any actions by companies that impede an individual from communicating directly with the SEC staff about a possible securities law violation they observe. Continue reading