SEC Financial, Securities Fraud, Stock Manipulation….

Under The SEC Whistleblower Program, the SEC already paid Whistleblowers hundred of millions of dollars. The largest-ever award to a whistleblower, nearly $279 million, was announced on May 5, 2023. Whistleblower awards can range from 10 to 30 percent of the money collected when the monetary sanctions exceed $1 million. As set forth in the Dodd-Frank Act, the SEC protects the confidentiality of whistleblowers and does not disclose any information that could reveal a whistleblower’s identity. Covered cases are like: financial fraud, securities fraud, stock manipulation, fraudulent schemes such as Ponzi or pyramid schemes, making false or misleading statements about a company including in SEC filings, and insider trading….

Exposing Fraud Against the US Government FCA

Under The False Claims Act (FCA), whistleblowers can be rewarded for confidentially disclosing fraud that results in a financial loss to the federal government. Provided that their original information results in a successful prosecution, whistleblowers are awarded a mandatory reward of between 15% to 30% of the collected proceeds. These rewards are often substantial, since under the False Claims Act, the criminal is liable for a civil penalty as well as treble damages.

Some States and Cities have their own Version of the FCA too.

Medicare and Medicaid health insurance fraud fall under the FCA.

Tax Evasion, The IRS Whistleblower Reward Program

Since 2007, the Whistleblower Office has made awards of $1.1 billion based on the collection of $6.6 billion.

The IRS Whistleblower Office rewards qualified individuals who report tax fraud or evasion and whose information is used by the IRS in successful sanctions against tax fraud. The award percentages vary based on the quality of the information provided but are between 15 and 30 percent of the proceeds collected in a successful enforcement action.

The IRS Whistleblower Reward program covers a wide array of criminal violations and the non-criminal underpayment of taxes. These violations include tax evasion, off-shore tax havens, shell accounts, money laundering, pyramid schemes, false reporting, and more.