SEC Whistleblower Tips Exceed 3,600 in Fiscal 2014 By Tod Aronovitz | 11/24/14 | 0 Comment

The number of whistleblower tips to the United States Security and Exchange Commission (SEC) is on the rise. That’s according to the agency’s 2014 Annual Report to Congress on the Dodd-Frank Whistleblower Program.

The report—which follows the SEC whistleblower program’s successes and award payouts—announced that the SEC received 3,620 tips from whistleblowers in fiscal year 2104, the largest number since the program’s inception three years ago. In fiscal 2013, the agency recorded a total of 3,238 tips.

According to the report, the SEC handled over 2,700 phone calls from the public. The agency fielded tips from every state, as well as Washington, D.C. and Puerto Rico, and Britain, India, Canada, China and Australia. California, Florida, New York and Texas generated the most tips among the 50 states.

The top-notch year also encompassed the greatest amount of money awarded to tipsters, including a single record payout of $30 million to an SEC whistleblower overseas, as we reported on our ARONOVITZ LAW Blog on September 26. A total of nine monetary awards were given to whistleblowers in fiscal year 2014, which ended September 30.

Additionally, sizeable payments were made to SEC whistleblowers who were rewarded in prior fiscal years, according to the report, because the SEC was able to further collect funds from a range of additional enforcement actions. An example included one lucky whistleblower who saw the original award mushroom from $50,000 to more than $385,000.

The November 17 report also revealed whistleblower claims that were denied, including one atypical case where 143 claims were rejected from just one individual. The SEC, who called those claims “false and baseless,” had previously rejected 53 claims from the same individual and found this person ineligible for consideration of any future awards as a result of using valuable staff resources and hurting “the rights of legitimate whistleblowers,” the report said.

How to Report Miami Medicare Fraud

Healthcare professionals or medical billing employees who have knowledge of questionable Medicare billing practices can file a confidential legal claim under the False Claims Act. By acting as a “whistleblower” in what is known as a “qui tam” lawsuit, a private party may collect up to 30 percent of the amount recovered, depending on how the case is prosecuted.

ARONOVITZ LAW: Miami Whistleblower / Qui Tam Law Firm

The Miami Qui Tam law firm of ARONOVITZ LAW routinely works with whistleblowers to document Medicare fraud and other forms of fraud against the government. Contact Miami Whistleblower / Qui Tam lawyer Tod Aronovitz to discuss your case.