The Securities and Exchange Commission paid more that $400,000 to a whistleblower who reported company fraud to the agency after unsuccessfully trying to push the company to remedy the issue itself, the SEC announced on Thursday.
Because of the SEC’s whistleblower anonymity protections, the agency did not provide specific details on the matter. It acknowledged that the whistleblower first did everything he or she could to try to get the company to address the issue internally, and only came to the SEC after several failed attempts to do so.
