The SEC announced that it paid an award of over $3 million to a whistleblower whose tip “helped the SEC crack a complex fraud.”  The SEC wrote:

The whistleblower’s specific and detailed information comprehensively laid out the fraudulent scheme which otherwise would have been very difficult for investigators to detect. The whistleblower’s initial tip also led to related actions that increased the whistleblower’s award.

This is the third-largest award in a program that has awarded over $50 million since it’s inception in 2011.  The Director of the SEC’s Division of Enforcement said that “the SEC’s whistleblower program continues to be profoundly effective in helping us protect investors and hold wrongdoers accountable.”

Read the full SEC press release, “SEC Pays More Than $3 Million to Whistleblower”