Statement of Erika Kelton, Partner and SEC/CFTC Whistleblower attorney at Phillips and Cohen
“Today the SEC’s announcement of the largest whistleblower award ever is a true testament to the value that whistleblowers bring to securities fraud enforcement. The size of the award indicates that the underlying securities fraud was egregious.
Moreover, the whistleblower provided sustained and invaluable assistance to the enforcement effort and, as the SEC notes, ‘expanded the scope of charges.’ This award will also undoubtedly motivate other knowledgeable individuals to step forward and report securities fraud to the SEC, providing significant future benefits to the agency and harmed investors.”
Ms. Kelton has won 16 Dodd-Frank whistleblower awards for her clients through the SEC and CFTC whistleblower programs — likely more than any other lawyer.