Publicizing Whistleblower Claims Doesn't Always Pay Off
Law360 (August 27, 2019, 8:44 PM EDT) -- Frustrated with the U.S. Securities and Exchange Commission's whistleblower award process, the man who exposed Bernie Madoff's multibillion-dollar Ponzi scheme has sought to profit by other means, but it won't necessarily be easy for others to follow suit, experts say.
Financial industry whistleblower Harry Markopolos, who has criticized delayed payouts from the SEC's program, partnered with a hedge fund to release a report earlier this month alleging a $38 billion accounting fraud at General Electric Co. As part of their agreement with the unnamed hedge fund, those who prepared the report were eligible for a cut of any profits the hedge...
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