Whistleblower is Awarded a Staggering 279 Million Dollars by the U.S. Government.

Saturday, May 6, 2023

Since the Whistleblower and the "good deed" are both being kept secret, is it possible this is some type of high-level illegal transfer of taxpayer dollars to a crooked person, or corporate entity, or country?

WASHINGTON — The nation’s top securities regulator on Friday announced it had given a $279 million award through its whistleblower program — the largest in its history.

The Securities and Exchange Commission said the unnamed whistleblower provided information and assistance that led to a successful enforcement action, which the agency didn’t describe.

The payout is well more than double the second-largest award of $114 million, issued in October 2020.

www.cnbc.com...

I suppose paying someone to rat on someone else can be good, or bad.

The $$$ reward can cause others to come forward.

-or-

The $$$ reward can cause people make up fake fraud and pin it on someone else, just to collect the cash.

Hmmmmm. What do yo think ATS?

-CareWeMust

a reply to: carewemust

The program also directly benefits investors, he added, because whistleblowers have aided enforcement actions resulting in the return of over $4 billion in ill-gotten gains and interest.

The SEC didn’t offer much information about the case or the whistleblower other than they gave “sustained assistance including multiple interviews and written submissions was critical to the success of these actions,” said Creola Kelly, chief of the SEC’s Office of the Whistleblower.

Sounds like a wonderful way to launder money.

I mean, there are better *cough Ukraine cough*

But hey, that's our govt!

a reply to: carewemust

So did George Soros got some of his money back?

Did the smartest man in the room (ie Hunter Biden) reveal that he was not paying taxes and the IRS had him rewarded with the amount needed to pay it?

Was this all just a money grab by some yet-to-be-known bad guy that will use that funny-money to fund a summer of riots?

Too vague to be an honest report. I bet this story was just to inform someone or people that a fee had been paid for some kind of service that has yet to be dumped on the public.

a reply to: carewemust

It sounds like a crooked move to me. We need verification on who, what , and where. I wouldnt trust this current government as far as I could throw them.



10% for the big guy!

Any secret payment for secret evidence of an undisclosed illegality is not kosher.

a reply to: carewemust

originally posted by: JinMI
a reply to: carewemust

The program also directly benefits investors, he added, because whistleblowers have aided enforcement actions resulting in the return of over $4 billion in ill-gotten gains and interest.

The SEC didn’t offer much information about the case or the whistleblower other than they gave “sustained assistance including multiple interviews and written submissions was critical to the success of these actions,” said Creola Kelly, chief of the SEC’s Office of the Whistleblower.

Sounds like a wonderful way to launder money.

I mean, there are better *cough Ukraine cough*

But hey, that's our govt!

Our government is steadily becoming more of a "WE OWN YOU" type of operation. They're taking our money and doing what they please, without caring if we know about it.

Some serious charges are coming for those at the top, if they keep pushing the envelope.

originally posted by: Dalamax
Any secret payment for secret evidence of an undisclosed illegality is not kosher.

a reply to: carewemust

" So is Lobster, and most people eat that up gleefully"
-My Rabbi Friend-

It's something he likes to say when something is clearly being used as propaganda or aa cover for a conspiracy by the Temple or Government. I think that mentality might be in play here.

Too bad lobster isn't an approved of bug for the masses to eat. In other words, "Keep it up cockroaches, and the people will be force to eat you"

a reply to: Guyfriday

If paying whistleblowers is actually a thing inside of government, I could see this $279,000,000 award being a motivating factor to those who have witnessed criminal activity in the Obama-Biden and Biden-Harris administration.

Joe Biden's personal Secretary/Assistant when he was Vice President, sort of threw Joe under the bus when she testified to the House Oversight Committee, 2 weeks ago. She implied that Joe Biden personally stole Classified documents and kept them in unmarked file folders. Kathy Chung might get a couple million dollars.

Either way, thats 27.9 million to Joe Biden. Good job Joe!

Could be part of an ongoing investigation into Congress Members and staff insider trading. We all know who is on top of that list 😎

Could also be part of the Bankman Fried case 😎

There is no where near enough information given to reach a proper conclusion. It does seem to be a reward to the whistleblower to target some company or organization, I wonder if it is against some political contributor. This kind of promoting can actually cause harm, a person can set up a companies paperwork to make it look like the company is doing something wrong and collect millions of dollars for doing it while crushing the company in the process.

I don't think giving such big rewards should be done myself, it will cause chaos in businesses all over when employees can start reporting things that are not true in an attempt to get a big payoff from the government too. In this kind of case the disgruntled employee will cause harm to the company and hide behind a whistleblower shrowd. If the disgruntled employee puts the company through a bunch of BS to punish them by fabricating a story to the government, that employee should serve time in prison. I have known quite a few people over my lifetime that would have caused this kind of trouble for an employer that they got pissed at for not giving them special treatment. The employer needs the employees to do the job they were hired to do and not fear an employee destroying their company when they did nothing wrong. I have seen small companies get trashed by a bad employee. Most people know people who have done that kind of thing to a business, sometimes it is justified but other times it is just an employee that went off on his boss or the company he/she/it worked for.

I would imagine if a WB actually gets paid, it must mean the evidence has been proven. Yummmmmy😎

a reply to: rickymouse

Would be interesting if Act-Blue disappears overnight.

a reply to: carewemust

That explains why they started the whistleblower program.

Laundering money, easy peasy.

originally posted by: visitedbythem
a reply to: carewemust

It sounds like a crooked move to me. We need verification on who, what , and where. I wouldnt trust this current government as far as I could throw them.



10% for the big guy!

Keeping Entity and the Reason secret, is indeed strange. But at least the $279 million was divulged. Since there's so much corruption, revealing the large $$$ amount could do more GOOD than HARM.

originally posted by: JinMI
a reply to: carewemust

The program also directly benefits investors, he added, because whistleblowers have aided enforcement actions resulting in the return of over $4 billion in ill-gotten gains and interest.

The SEC didn’t offer much information about the case or the whistleblower other than they gave “sustained assistance including multiple interviews and written submissions was critical to the success of these actions,” said Creola Kelly, chief of the SEC’s Office of the Whistleblower.

Sounds like a wonderful way to launder money.

I mean, there are better *cough Ukraine cough*

But hey, that's our govt!

Bingo.
There is simply no way that the common man is going to receive that amount of money. One thing I have learned in life is that the people who have lots of money are never giving it to a normal Joe for free to make them rich. Never.
You can make a very secure bet that millions of tax payer dollars just landed in the hands of a few already rich people.

a reply to: carewemust

The identity of whistleblowers is protected under the 2010 Dodd-Frank Act. Whistleblower payments are withdrawn from an investor protection fund established by Congress. Rewards can range from 10% to 30% of the money collected when sanctions exceed $1 million.

They must have uncovered and recovered one heck of a sizeable securities fraud incident. I wonder if we'll ever hear or read about anyone being fined some whopping amount like some of these others in the near future...

The agency reported a record amount of civil penalties in fiscal year 2022, totaling over $4.1 billion across 760 enforcement actions. That year, Allianz Global Investors and three of its portfolio managers agreed to pay over $1 billion to resolve charges of defrauding investors, and 16 Wall Street firms — including Credit Suisse and Goldman Sachs — settled at over $1.1 billion for widespread recordkeeping and communications failures.

a reply to: carewemust

I wonder whether this was a Qui Tam lawsuit. I am assumming that it was and said whistleblower went direct to the Feds such that they assigned he or her or them as protected Registered-Confidential Sources. Once they get that designation they remain unknown even to the Federal Judge and Prosecuters and Defense Attorneys. It is permanent. Its almost as if they are in the Witness Protection Program under the US Marshalls Service as they will be forever hidden. Assumming the Feds handling this arent stupid they probably let certain evidence slide and other monies stay with the criminals so the criminals cant put the puzzle together to determine who blew them in.

Qui Tam Lawsuit

Based on the dollar amount this is my best guess as the overall funds that the USA recovered must be over one billion dollars. Its big enough that whomever committed the crimes would and could bring in offshore assassins to take out the whistleblower

A registered source can be within any Agency within the US Government typlically under the protection of the SEC Office of The Inspector General within said Agency. It can be a simple desigantion as SY-2.

a reply to: Waterglass

At the bottom of the article in your link...

A qui tam lawsuit (also called a qui tam action) is a powerful way for whistleblowers to help the government stop many kinds of fraud and recover money for the US Treasury and American taxpayers. Some of the types of fraud alleged in qui tam claims include Medicare and Medicaid fraud, defense contractor fraud and procurement fraud. Qui tam lawsuits have helped to recover billions that have been stolen from the US Treasury and taxpayers.

Whistleblowers may report tax frauds, securities law violations and commodities law violations under other US whistleblower protection and reward programs, but those do not allow qui tam lawsuits.

Based on the very last sentence, this particular incident must be protected under a different protection and reward program than the qui tam since it is "securities" related.

a reply to: Deetermined

Thanks it very well could be. I entered the program in 1990. The Feds then wiped, er I mean "sanitized" me from all news outlets including CNN, Wall Street Journal and Associated Press. I have all originals in my evidence box. I have since found one reamaning article on the front page of a newspaper in New York State. My stuff was Nuclear related DOD material. I am prohibited from discussing it for life as they dropped The National Secuirty of The USA Card on me.

Once they do that its game over. A federal judge reminded me of that during an hour long lecture from the bench. He got so worked ~ "lathered" up he threw his gavel at my attorney.