SEC Whistleblower Lawyer Blog
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.
A whistleblower can be anyone who has information on a Ponzi scheme or other fraudulent activity that results in financial losses. Whether you’ve invested in a Ponzi scheme, know someone who has, are a broker or other industry insider, or someone who recognizes the signs of a Ponzi scheme, you may be able to become a SEC Whistleblower. However, simply reporting that you believe someone is operating a ponzi scheme will not be enough. A whistleblower must present original new information to the SEC in a way that is compelling and leads to the investigation and prosecution of misconduct by the SEC.
Working with Ponzi scheme whistleblower attorneys should be first on your list before submitting your information to the SEC. If you want to report this information anonymously, you must be represented by legal counsel and experienced counsel can present the information in a manner most consistent with SEC best practices.
Whistleblowers are protected by law, and the SEC keeps their identities confidential. Our whistleblower attorneys work with the SEC on your behalf to protect your rights and confidentiality. Even if you worked for a company that is engaging in misconduct, based upon your role in the company, the information you report to the SEC and the timing can all impact an award.
These monetary awards are not automatically given to whistleblowers after the enforcement action. Because you must apply for an award after the enforcement action is published, our whistleblower attorneys can also assist you in applying for this award.
Investors In Ponzi Schemes – SEC Whistleblower Claims
If you’re an investor who has fallen victim to fraud, partnering with a Ponzi scheme whistleblower attorney can be a powerful step toward justice and potential financial recovery. Our specialized lawyers possess in-depth knowledge of complex securities laws and regulations, including the SEC Whistleblower Program.
By becoming a whistleblower, you can potentially turn your unfortunate investment experience into an opportunity for both personal recovery and broader market integrity for other investors. By working with our whistleblower attorneys, you can benefit from expert guidance in navigating the complex reporting process. We work to ensure your claims are presented effectively to the SEC and other regulatory authorities.
Our attorneys can also help maximize the potential for monetary awards, which can be substantial. You may receive a monetary award of between 10% and 30% from the fines and sanctions recovered by the government, in addition to any of your investor funds that might be recovered.
Our attorneys are dedicated to securities and investment fraud matters. Whether your case involves an SEC whistleblower claim, class action against an issuer or a FINRA arbitration against a financial advisor. Our team of lawyers take a holistic approach to analyzing the situation and helping you determine the best course of action for recovery.
Brokers and Other Financial Industry Insiders
Anyone in the securities industry is required to uphold certain standards for their clients. Brokers, investment advisors, and others in the industry must act in a client’s best interests. But who’s looking out for your best interests, especially when you learn about a Ponzi scheme?
Our Ponzi scheme whistleblower attorneys can also provide protection against retaliation, safeguarding your career and reputation while you take a stand against financial misconduct. We protect your rights and your interests during interactions with the SEC. Our experience in building compelling cases and liaising with government agencies can significantly increase the chances of a successful outcome.
Some of the most successful SEC whistleblowers are company insiders who had the courage to speak out and report misconduct even after getting ignored by their own employers. We frequently work with company insiders who prefer to remain anonymous but want to see ongoing frauds or Ponzi schemes stopped in their tracks. Our lawyers work with you to protect your identity while maximizing any potential reward.
Award Eligibility
Whistleblowers who notify the SEC of an ongoing Ponzi scheme first are the ones who usually receive these awards. In the case of later submissions, the awards may be reduced, depending on how much more original information and assistance someone gives, or how long someone waited to submit their information.
Receiving an award takes more than just submitting your information to the SEC. To receive an award once an enforcement action is completed, you must also apply for it within 90 days of the date the Notice of Covered Action is published to be eligible.
You must provide the SEC with original information that has not been previously disclosed to them. Information that they may not have found in the normal course of the investigation and saves the SEC time and resources is also helpful towards a successful enforcement action.
Whistleblowers who meet any eligibility criteria for enforcement actions that yield $1 million in administrative fines and other fees may be awarded a monetary award for their assistance. The awards are between 10% and 30% of the intake, depending on the circumstances. Investor funds are not used for these awards. Any recovered investor funds are returned to the defrauded investors, whenever possible.
At this point, an anonymous whistleblower must disclose their identity to the SEC. Our whistleblower attorneys will work on your behalf to ensure that your identity is only disclosed for award purposes and no other.
Why You Need A Ponzi Scheme SEC Whistleblower Attorney
A whistleblower attorney can help a potential whistleblower in many significant ways:
Knowledge of the SEC’s Whistleblower Program: our attorneys possess in-depth knowledge of the SEC Whistleblower Program, including its rules, procedures, and award determination process.
Anonymity protection: Our whistleblower attorneys help maintain a client’s anonymity throughout the reporting process.
Submission Preparation: Our whistleblower attorneys are skilled in preparing compelling tip, complaint, or referral (TCR) submissions to the SEC, increasing the chances of the SEC pursuing the case.
Award maximization: We work to maximize potential monetary awards for our clients.
Retaliation protection: We help to provide safeguards against potential retaliation, helping protect the whistleblower’s career and reputation.
Contingency fee structure: Our whistleblower attorneys offer their services on a contingency fee basis, meaning they are only paid if the case is successful.
Because we focus on these specific attributes of whistleblower representation, we can offer tailored expertise that goes beyond the scope of a regular attorney’s practice.
Retaining Experienced SEC Whistleblower Attorneys
SEC whistleblowers help everyone by notifying the government of conduct that harms the investing public, while also earning a financial award for themselves. Experienced SEC counsel representing you may greatly increase the probability that the SEC will initiate an investigation based on your information. If you wish to remain anonymous, you must be represented by an attorney.
Silver Law Group and the Law Firm of David R. Chase have formed a strategic alliance and jointly have experienced SEC whistleblower lawyers, including a former SEC Enforcement attorney on the team. Our SEC whistleblower attorneys can help you if you have information regarding investment fraud or other violations of federal securities laws.
Contact us through our online form or at (800) 975-4345 for a consultation. Our attorneys work on a contingency fee basis. This means that it costs you nothing to hire us, and we collect our fees only if you receive an SEC bounty. Because we get paid when you do, we have the incentive to help you collect the maximum award available.