Whistleblower News & Articles
November 7, 2022
The U.S. Commodity Futures Trading Commission (CFTC)’s 2022 fiscal report highlights the largest-ever whistleblower award made under the Dodd-Frank Act. A single whistleblower received a record-breaking $200 million award in fiscal year 2022. According to the report, the CFTC filed 82 enforcement actions in 2022 compared to only 55 filed in 2021. In 2022, it was successful in securing $2.5 billion in restitution and penalties. In 2021, the CFTC recovered only $1 billion.
The CFTC regulates the U.S. derivatives market. Essentially, it is tasked with protecting the public from fraud, manipulation, and abusive practices related to the sale of commodities, futures, options, fintech and cryptocurrencies such as Bitcoin.
The CFTC’s Enforcement Division investigates and prosecutes violations of the Commodity Exchange Act (CEA) and CFTC regulations. Some examples of the 82 enforcement actions in 2022 included:
The CFTC report highlights a record breaking $200 million whistleblower award paid to an unidentified individual for information provided in an already open investigation. Since its inception, the CFTC whistleblower program has issued sanctions totaling more than $3 billion.
Whistleblower Law Collaborative LLC, based in Boston, devotes its practice entirely to representing clients nationwide in bringing actions under the federal and state whistleblower laws and programs, False Claims Acts, and other whistleblower programs. We have extensive experience representing whistleblowers in False Claims Act, CFTC, and SEC matters.
Although an attorney is not required to bring a CFTC whistleblower case, the experienced attorneys at Whistleblower Law Collaborative can help you navigate the filing process and assist you with applying for any applicable reward. One of our recent successes includes representing a client who reported financial fraud and received a $17 million whistleblower reward.
If you are considering submitting a tip, complaint, or referral to the CFTC or SEC or are aware of other types of fraud, contact us for a free, confidential consultation.
Dec 29, 2022Money laundering is the process of making illegally-gained proceeds or “dirty money” appear legal or “clean.” Most large scale money laundering involves use of the legitimate banking system. Regulators and...
Nov 27, 2018We reflect this Thanksgiving on the legacy of Abraham Lincoln. As False Claims Act lawyers and lovers of history, we have a particular reverence for him, the President who saw...
Sep 16, 2022Massachusetts Lawyers Weekly Recognizes Extraordinary Women Lawyers The Whistleblower Law Collaborative is proud to announce that Suzanne Durrell has been named one of the Top Women of Law by Massachusetts...