HomeCommodity Futures Trading Commission Issues $200 Million Whistleblower Award

Commodity Futures Trading Commission Issues $200 Million Whistleblower Award

Mary Jane Wilmoth - Thumbnail
Published On: October 21st, 2021Categories: Securities and Commodities Fraud, Whistleblower News and Qui Tam Blog

Largest award ever to an individual whistleblower

Washington, D.C. October 21, 2020. Today the Commodity Futures Trading Commission issued the largest whistleblower award in history: $200 million.

In issuing the award, the CFTC stated:

The Commodity Futures Trading Commission today announced an award of nearly $200 million to a whistleblower whose specific, credible, and timely original information significantly contributed to an already open investigation and led to a successful enforcement action, as well as to the success of two related actions, by a U.S. federal regulator and a foreign regulator.

According to the order, the whistleblower’s information led the CFTC to important, direct evidence of wrongdoing. In order to qualify for an award, a whistleblower who significantly contributed to the success of an enforcement action must demonstrate that there is a “meaningful nexus” between the information provided and the CFTC’s ability to successfully complete its investigation, and to either obtain a settlement or prevail in a litigated proceeding. The Commission determined here that the whistleblower met this standard.

To date, the CFTC has issued rewards based on over $3 billion in sanctions collected by fraudsters.

Stephen M. Kohn, a partner in the whistleblower law firm of Kohn, Kohn and Colapinto, and the Chairman of the Board of Directors of the National Whistleblower Center issued the following statement:

“The CFTC did the right thing in granting the largest whistleblower reward in history. This award should send a powerful message to all corporate fraudsters that their own employees can and will report frauds and other crimes to law enforcement. The $3 billion collected by the CFTC in sanctions is only the tip of the iceberg as to the benefits obtained by the American people. Whistleblower reward laws act as a major deterrent to wrongdoing. Let this award be a warning to all those on Wall Street who cheat to make a profit. The new whistleblower laws can and will lead to your detection.”

CFTC Order

CFTC Press Release

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