WASHINGTON (Pakistan Point News / Sputnik - 03rd June, 2021) Two whistleblowers received rewards of $13 million and $10 million for reporting violations of US security laws, the Securities and Exchange Commission (SEC) said on Wednesday.
"The Securities and Exchange Commission today announced awards of approximately $13 million and $10 million to two whistleblowers whose information and assistance led to successful SEC and related actions," the commission said in a statement.
� Acting chief of the SEC's Office of the Whistleblower, Emily Pasquinelli, explained that the corporate whistleblowers alerted authorities of fraudulent activity involving large sums of money.
"The whistleblowers' information and assistance led to multiple successful enforcement actions related to a complex and fraudulent scheme involving multiple individuals and tens of millions of Dollars in ill-gotten gains," Pasquinelli said.
The tipsters provided the SEC and another Federal agency with documents and identified key individuals during interviews as part of the investigation, the release said.
Whistleblower awards range from 10 percent to 30 percent of the money collected when the monetary sanctions exceed $1 million, according to the release.
The SEC said it has awarded more than $928 million to 166 individuals since issuing the first award in 2012.
