Since the U.S. Securities and Exchange Commission started its whistleblower program back in 2011, it has given out a total of $55 million in awards to whistleblowers who pointed out wrongdoing at their firms or companies. Until now, all of these awards have involved internal players at the company speaking up about misconduct.
But with its latest whistleblower award, announced on Friday, the SEC has broken the mold by issuing an award to someone who doesn’t even work for the organization they blew the whistle on. Since the SEC redacts identifying information in these cases, no one knows the name of the individual who got the award or the name of the company targeted by the enforcement action. What’s certain though is that whoever the recipient may be, he or she did pretty well, taking home $700,000 from the government.
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