The Securities and Exchange Commission on Wednesday awarded more than $150,000 to a whistleblower whose tips helped the agency stop a scheme that was defrauding investors.
The agency said the award amount represents 30% of the money collected by the SEC in the successful enforcement action, the maximum permitted under the law.
The award recipient provided significant information that allowed the SEC to “quickly open an investigation and obtain emergency relief before additional investors were harmed.”
“This is continued momentum and success for the SEC’s whistleblower program that is bringing our investigators valuable and timely information to stop ongoing frauds before additional investors can be harmed,” said Sean McKessy, chief of the SEC’s Office of the Whistleblower, in a statement.