"The Securities and Exchange Commission today announced that it has awarded nearly $4 million to an overseas whistleblower whose tip led it to open an investigation and whose extensive assistance helped it bring a successful enforcement action," the release stated.
Whistleblower awards can range from 10 percent to 30 percent of the money collected when the monetary sanctions exceed $1 million, the release explained.
The SEC has awarded over $326 million to 59 individuals for information leading to $1.7 billion in monetary sanctions for corporate wrongdoing, the release explained.
Under the program, the SEC withholds names of whistleblowers and targeted companies.
