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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