Leading whistleblower attorney Stephen M. Kohn recently spoke to CNN about a record-setting whistleblower award issued by the Securities and Exchange Commission (SEC).
The SEC award, which was approximately $114 million granted to an individual, is more than twice as large as the previous top award issued by the Commission ($50 million).
“This is the type of award that changes cultures,” said Kohn, a whistleblower attorney at Kohn, Kohn & Colapinto. “It incentivizes people to come forward and it also deters wrongdoing. It makes it very real for people who are thinking about engaging in fraud. They realize there is a strong likelihood they’ll be turned in.”