The anonymous whistleblower’s attorney, Stephen M. Kohn, made the following statement regarding the SEC’s Award:
“We congratulate our client for his or her courage, perseverance, and determination in holding fraudsters accountable. The whistleblower has obtained compensation for the significant sacrifices suffered over the years, and we hope that we can continue to work with him or her to obtain full justice in this case and continue to hold fraudsters accountable.
“These awards further demonstrate that the Dodd-Frank Act whistleblower laws covering securities, commodities and foreign bribery crimes work. They deter crime, put fraudster in jail, recover billions for investors, and protect the integrity of the markets.
“The Dodd-Frank Act provides whistleblowers with the compensation and protection they deserve. The SEC has created the safest reporting system ever devised to incentivize the disclosure of fraud.
“Congress needs to protect the Dodd-Frank Act from corporate attacks, and to expand similar protections into areas such as climate-related violations, social media accountability, and anti-trust.
“The confidentiality and anonymity provisions of the DFA make it possible for high-level executives and others to report fraud without risking their careers and livelihoods.
“Unfortunately, we are unable to provide any information related to the identity of the client or the company(ies) he or she reported to the SEC. But we can confirm that innocent investors saved millions of dollars based on the whistleblowers’ courageous actions.”