The Securities and Exchange Commission today announced that sham hedge fund whistleblower (three people) have been awarded more than $25,000 to date.
This is the first of anticipated payments to the whistleblowers in which they will receive approximately $125,000 in total.
The case had related criminal proceedings in which money is collected by another regulator and the sham hedge fund whistleblowers award can also collect up to 5 percent of total in the related criminal action.
In this case, perpetrator was involved in wire fraud and consented to the forfeiture of his interest in property:
- sham hedge fund whistleblowers helped stop investor fraud
- sentenced to 40 months in prison with around $170,000 forfeited in the criminal proceeding
- assets seized approximately $845,000
- sham hedge fund whistleblowers to receive 15 percent of that amount
- sham hedge fund whistleblowers submitted information anonymously with the help of a lawyer
- More information about the whistleblower program and how to report a tip is available at: http://www.sec.gov/whistleblower
At the Gooch Law Firm, we pride ourselves on providing our clients reliable representation for even the most challenging cases. If you need help with providing whistleblower information anonymously (to the Department of Justice or The Office of the Whistleblower) about potential fraud (e.g., health care fraud, defense department contract fraud, securities fraud – governmental or non-governmental, contract fraud, investor fraud etc.) and would like your case evaluated, contact our office at 1.844.329.5955.
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