Silver Law Group represents a Securities and Exchange Commission (SEC) whistleblower who was awarded $1.8 million by the SEC for providing information that led to the collection of millions of dollars from two brokerage firms.
The Commission said in a press release that our client, an insider, “provided information that would have been difficult to detect in the absence of the tip and provided extraordinary assistance to SEC staff resulting in the return of money to investors.”
Silver Law Group is the publisher of secwhistleblowerlawyers.net and has a team of lawyers supported by forensic accountants and others which represents SEC and CFTC whistleblowers. Our unique team understands Wall Street and how to file a whistleblower claim which has the greatest likelihood of being investigated by the SEC and earning a whistleblower award.
Our securities investment fraud attorneys have previously worked at the SEC and/or worked at Wall Street defense firms and understand the complexities of the SEC whistleblower process and how to maximize awards while protecting your identity.
SEC Whistleblower Complaints
Silver Law Group filed a whistleblower submission (TCR submission) with the SEC on behalf of our client against a Wall Street giant. Our client was a financial advisor at broker-dealer Morgan Stanley Smith Barney, LLC (Morgan Stanley). The tip related to the “fraudulent marketing and selling of a proprietary foreign currency trading program” by Morgan Stanley and its affiliate broker-dealer Citigroup Global Markets, Inc. (Citigroup).
Based on the information our client provided to the SEC, the Commission investigated and reached consent orders with Morgan Stanley and Citigroup which resulted in the collection of almost $6 million in disgorgement and penalties.
Seeking Maximum Award
In an application for award submitted to the SEC, we argued that our client should receive an enhanced award of 30% because of the financial and professional hardship suffered for reporting high quality information to the government regarding violations that harmed investors.
After filing his initial whistleblower claim, our client provided ongoing assistance to the SEC, which included providing additional source materials and meeting with Commission staff.
Our client “at great cost to himself, demonstrated how misconduct by a large firm can be effectively and efficiently prevented by front line employees stepping forward and communicating such malfeasance to regulators,” the application said.
Our effort was successful, and our client was awarded 30% of the money collected, which is the maximum allowed.
Speak With An Experienced SEC Whistleblower Attorney
Our SEC whistleblower attorneys can help you if you have information regarding securities or investment fraud or other illegal conduct. The SEC considers cases involving securities fraud and violations of federal securities laws, including Ponzi schemes, false filings, and market manipulation.
Our lawyers have filed multiple SEC whistleblower claims, and clients include Wall Street insiders, main street investors, and others who have original and timely information about fraud. Whistleblowers can help the public interest by alerting the authorities to conduct that is harmful to the public while also receiving a percentage of the sanction collected from the offender.
We are ready to investigate your potential whistleblower complaint and take the actions necessary to reach your goals. Contact us through our online form or at (800) 975-4345 for a consultation. Our attorneys work on a contingency fee basis, which means it costs nothing to hire us and we have the incentive to get you the largest award.