Are Financial Whistleblowers Worth It? Study Says Yes – to the Tune of $21.27 Billion
November 19, 2014
Jordan A. Thomas discusses a new study tracking the economic effects of whistleblowers
The financial rewards encourage people who have more evidence of wrongdoing to come forward, said Jordan A Thomas, partner and Chair of Labaton Sucharow LLP’s Whistleblower Practice.
Jordan previously worked on development of the Securities and Exchange Commission’s (SEC) whistleblower program. The monetary awards under the program can help with some of the risks whistleblowers face, like loss of employment.
“Prior to the SEC whistleblower program, getting a tip was not something you looked forward to,” he said. With the program in place, the tips are more substantial. “We are starting cases knowing where the problem is, the people who are involved, and sometimes we have them on tape. It’s a very different world. It’s exciting when you are at the SEC and you are receiving these cases.”