Most whistleblowers are keen to keep their activity concealed and private until the information becomes public. In an unusual twist, one whistleblower decided to publish a research report online detailing the fraudulent activity of a company and that of its CEO prior to notifying the SEC of the fraud. Within…
As we’ve blogged many times, the SEC pays whistleblowers monetary awards out of funds collected from companies and individuals that violate securities law through administrative fines and other sanctions. Since 2012, when the first award was made, the SEC has awarded $1.2 billion to 245 whistleblowers. In 2021 alone, the…
What should you do if you’ve encountered defense contractor fraud and you want to stop it? Practically speaking, start by getting qualified legal representation as soon as possible. You need legal protection, to understand the best ways to insulate yourself from retaliation or other negative results, and, importantly, to make…
What should you do if you’ve encountered health care fraud and you want to stop it? You have options, and there isn’t one right or wrong answer. It will depend on the type of fraud, who is perpetrating it, how much you want to remain anonymous, and more. File a…
When it comes to legal terminology, there’s one term that is frequently discussed but little understood: Arbitration. Let’s discuss what arbitration is and how it can impact your whistleblower claim. Arbitration is a sort of private mini-trial to litigate disputes between two or more parties. Rather than going to court…
Through three orders, the SEC issued awards to four people that totaled over $40 million. In the first proceeding, the SEC awarded two individuals a bounty of $37 million that provided crucial evidence leading to the success of the covered action. One individual helped SEC staff understand the evidence provided,…
The Securities and Exchange Commission has kept busy, even through the holidays. On January 10th, 2022, the SEC put out a press release announcing that three more people have received bounties after working with SEC staff to identify and discontinue wrongdoing in the financial sector. The first whistleblower reported their…
Given both the breadth of the activities that can constitute violations of the Foreign Corrupt Practices Act (FCPA) (since it precludes giving anything of value) and the severity of the possible penalties (prison terms and millions of dollars in fines), the Department of Justice (DOJ) and Securities and Exchange Commission…
Both the Department of Justice (DOJ) and the Securities and Exchange Commission (SEC) are responsible for enforcement of the Foreign Corrupt Practices Act (FCPA). And as this dual-enforcement mechanism suggests, FCPA violators can face criminal and civil penalties, and there are punishments for both the responsible individuals and the entities…
SEC Whistleblower attorneys Scott Silver and David Chase were recently the featured guests on ‘Cut To The Chase’ podcast to discuss the SEC whistleblower program and their work representing whistleblowers. Cut To The Chase podcast is hosted by attorney and activist Gregg Goldfarb and focuses on legal news and public…