US Government pays $ 114 million to one of its “anonymous whistleblowers” for providing information of extraordinary value | The NY Journal

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US Government pays $ 114 million to one of its

The man reported an illegal action on the Stock Exchange.

Photo:
Angelo_Giordano / Pixabay

The U.S. Securities and Exchange Commission (SEC) paid one person $ 114 million for alerting the government to misconduct on the Stock Market and for offering “extraordinary” assistance in an investigation, according to CNN.

“I hope this record-breaking award will encourage others with information about possible violations of securities laws to step forward,” said Jane Norberg, director of the SEC’s whistleblowing office.

In this case, the complainant initially reported the violation internally, but when he got no response, he went to the SEC.

“A great lesson from this award is that companies should take whistleblower reports seriously,” Norberg said. “Because the SEC probably already has the information, or will have it shortly thereafter. And we will follow up ”.

This means that the US Securities and Exchange Commission plans to thoroughly investigate all complaints.

The SEC fiercely protects the identities of whistleblowers, which means that we may never know who received the $ 114 million reward, or the financial misconduct you helped uncover.

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