SEC Safe Harbor Whistleblower Lawyer Helps Company Insider Whistleblowers Anonymously Report Fraud and Collect Bounty Action Rewards by SEC Safe Harbor Bounty Rewards Lawyer

SEC Safe Harbor Whistleblower Lawyer Helps Company Insider Whistleblowers Anonymously Report Fraud and Collect Bounty Action Rewards by SEC Safe Harbor Bounty Rewards Lawyer Jason Coomer

On April 5, 2018, the Securities and Exchange Commission announced a whistleblower award of more than $2.2 million to a former company insider whose tips helped the agency open an investigation that led to an enforcement action.  The whistleblower first reported the information to another federal agency and later provided the same information to the SEC.

For more information on this topic, please for the following web pages: Expose Investment Fraud and Earn Large Financial Rewards and SEC Reward Lawyer and Bounty Action Reward Lawyer Information.

SEC Safe Harbor Provision Allows Whistleblowers Who Expose Fraud and other Violations To Other Federal Agencies to Also Seek Bounty Action Rewards from the SEC

This is the first award paid under the “safe harbor” of Exchange Act Rule 21F-4(b)(7), which provides that if a whistleblower submits information to another federal agency and submits the same information to the SEC within 120 days, then the SEC will treat the information as though it had been submitted to the SEC at the same time that it was submitted to the other agency.

The whistleblower voluntarily reported information to a federal agency covered by the rule, which referred the matter to the SEC.  The SEC then opened an investigation.  Within 120 days of the initial report, the whistleblower provided the same information to the SEC and later provided substantial cooperation in the investigation.  Although the SEC report came after the staff had opened its investigation, the SEC treated the submission as though it had been made when the whistleblower provided the information to the other agency.

Whistleblower Reward Lawsuits Can Include Government Contractor Fraud Lawsuits, Government Contractor Procurement Fraud Lawsuits, and Government Contractor False Certification Lawsuits

Government contractor procurement fraud and false certification fraud have increased as some government contractors and subcontractors have decided that they can make large profits by defrauding the government. These Fraudulent Contractors provide defective goods, cross charge, make false certifications of services provided, charge for services not provided, charge for goods not provided, violate the Truth-in-Negotiations Act ("TINA"), and make improper cost allocations.  Whistleblowers that have independent knowledge of procurement fraud committed against the government by government contractors and subcontractors can blow the whistle on the procurement fraud and if they are the first to provide notice of the fraud can recover a large financial reward for helping the government identify and stop procurement fraud.

 For more information on these whistleblower reward lawsuits, please go to the following web pages: Whistleblower Reward Lawsuits and Government Contractor Fraud Lawsuits.