Earlier this year, Edward Siedle received the last chunk of his $68 million reward for blowing the whistle on wrongdoing by J.P. Morgan Chase. It was one of the largest awards ever given by the Securities and Exchange Commission and the Commodity Futures Trading Commission.
Siedle has spent the past 30 years providing the SEC with his findings from various forensic investigations. He has created a unique business model identifying fraud.A whistleblower by the name of Harry Markopolos had tried to get the attention of the commission for a decade. He was trying to expose Bernie Madoff, the mastermind behind one of the most infamous Ponzi schemes in history. But, according to Markopolos, the commission ignored him.
The SEC's inability to protect investors spurred an internal investigation and eventually a whistleblower program was launched in 2010. The SEC now provides financial awards ranging from 10% to 30% of the total recovery to whistleblowers in hopes of inspiring more people to come forward. Since the program's inception, 66 whistleblowers have helped the government recover $2 billion. In return, they've received $387 million for their contributions. And while the program has had some successes, the bounty and other parts of the program are under threat.
Watch the video above to find out more about Siedle, who currently has two ongoing claims with the SEC and hopes to file another one soon, and to learn more about the SEC whistleblower program.
It comes out of the shareholders pockets, it should come out of the pockets of the wrong doers.
I was a whistleblower during the banking crisis, as an underwriter, and then again 4 years later when a Fair Lending Analyst in a company that was discriminating against applicants. I went to government agencies for help. All it got me was blacklisted....too bad for me.
😆👍🤭
Well guess what. Fuck the whistle. Twerk it.
Whistleblowing has always been a business
mr_jettlife
9 Wall Street Execs Who Cashed In on the Crisis. Meet the moguls who made out like bandits. (NO JAIL TIME) BIG FAT BONUSES.!! 2008.!! TAX CUTS TO THE RICH DON'T WORK!! WHEN YOU DON'T PUT THESE SOB'S IN JAIL YOU GET MORE OF THE SAME.
Ill eat two packs of saltines and whistle right now for 68 million. Who doesn’t want that job 🤣😂💀💀
Delete your account
Finacial motivation to expose wrong doing doesn't diminish the intention.
Corporate whistle-blowing has been an effective deterrent to corporate malfeasance. Would expect the same would apply to the public sector.
breakingnews Meet Edward Siedle, a corporate.... meet/met/met The book is yours!😀😀😀 kindle KindleUnlimited books
The Dumocrats & MSM have done nothing the past 3 years except try to hurt President Donald Trump
Why is Jamie considered a legend again?
Yup... Greed is not a new drug.
Good! Someone should create a Whistleblower consulting firm!
Delete your account.
Then make it known before the investor's lose there hard earned dollars (the little guy)
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Source: VanityFair - 🏆 391. / 55 Read more »