SEC awards tipster more than $1.7 million USD

The U.S. Securities and Exchange Commission (SEC) has awarded a corporate whistleblower tipster more than $1.7 million USD for providing the regulator with “critical information to help stop a fraud that would have otherwise been difficult to detect.”

The SEC noted that the enforcement action sparked by the whistleblower tip led to millions of dollars being returned to harmed investors.

The SEC’s announcement is the second financial award announced in less than a week by the SEC, which has now paid out approximately $158 million USD to 46 whistleblowers under its program that pays for information leading to significant enforcement action.

Read more at Investment Executive

This article is summarized by Canadian Fraud News Inc.

Kayla Kuefler is the head writer and social media producer at Canadian Fraud News. Kayla was born-and-raised in Edmonton, Alberta and moved to Toronto in 2013 to pursue her Bachelor of Journalism at Ryerson University. Kayla has previously interned at Global News Edmonton, Global News Toronto and CBC News in London, England.

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