Click Fraud Protection Reporting Financial Fraud Pays: SEC Awards Whistleblower $20 Million - TZ Legal - Fraud Fighters
TZ Legal – Fraud Fighters Logo
HomeNewsReporting Financial Fraud Pays: SEC Awards Whistleblower $20 Million

Reporting Financial Fraud Pays: SEC Awards Whistleblower $20 Million

Date Published
Dec 06, 2022

December 6, 2022.  The United States Securities and Exchange Commission granted a $20 million award to a whistleblower at the end of November.  According to the order, the whistleblower provided “significant information and continuing helpful assistance that enabled Commission staff to more quickly and efficiently investigate” the matter.  Other whistleblowers were mentioned, but only one was rewarded.  Under the SEC’s whistleblower program, individuals who report securities fraud can receive awards between 10-30% of the amount the SEC recovers.

As is typical of SEC orders, identifying information about the individuals and companies involved is redacted.  The individual who received the $20 million award (“Claimant 1”) was allegedly involved in the fraudulent activity; the SEC noted that their reward “appropriately recognizes Claimant 1’s contribution to the Covered Action while also accounting for both his/her level of culpability and unreasonable reporting delay.”  As TZ’s whistleblower attorneys note in this video, being involved in a fraud scheme does not preclude someone from becoming a whistleblower. The SEC will reward whistleblowers who provide information that allows the SEC to open, reopen, or expand an investigation into problematic conduct in the securities industry.

Securities fraud entails companies deceiving investors or attempting to manipulate financial markets through a variety of financial practices. Securities fraud harms investors by risking their investments and financial solvency for malicious actors’ gain. Industry insiders are uniquely positioned to blow the whistle on financial fraud schemes.

If you would like to report securities, commodities, or banking fraud, you can contact attorneys at Tycko & Zavareei LLP. Eva Gunasekera and Renée Brooker are former officials of the United States Department of Justice and prosecuted whistleblower cases under the False Claims Act. Renée served as Assistant Director at the United States Department of Justice, the office that supervises False Claims Act cases in all 94 United States District Courts. Eva was the Senior Counsel for Health Care Fraud. Eva and Renée now represent whistleblowers. For a free consultation, you can contact Renée at [email protected] (tel.: 202-417-3664) or contact Eva Gunasekera at [email protected]. You can also go to Tycko & Zavareei LLP’s website for whistleblowers to learn more at

How can we help you?

Confidential Case Evaluation

Our experienced qui tam attorneys are available for a confidential, no-cost, no-commitment, initial evaluation of your case. Call us now at (202) 973-0900, or begin the process by completing our Confidential Case Evaluation Form.
Start The Process