Commodity Futures Trading Commission Wants Whistleblower Help
Commission Issues $2.5 Million Reward
The U.S. Commodity Futures Trading Commission (CFTC) recently announced a whistleblower award of $2.5 million to a whistleblower who blew the whistle on violations of commodities trading regulations. The CFTC is the government agency that oversees commodities and futures trading, options, derivatives and virtual currency (like Bitcoin) trades. The CFTC rewards whistleblowers whose information that leads to prosecution and sanctions against the organizers of fraudulent schemes in the trading of these investments. Whistleblowers are eligible to receive between 10 and 30 percent of the monetary sanctions collected in actions where the amount of sanctions ordered exceeds $1 million.
If you have credible information of commodities, securities, banking, or tax fraud in California call the Evans Law Firm whistleblower attorneys today at (415)441-8669 and we can help. Our whistleblower attorneys represent whistleblowers in CFTC cases, Securities and Exchange Commission (SEC) cases for securities fraud (related to stocks, bonds, private placements and variable annuities for example), banking fraud under the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (“FIRREA”), Internal Revenue Service (IRS) cases for tax fraud, particularly offshore tax avoidance schemes, and False Claims Act cases against corporations defrauding the government for payments or reimbursements. The government keeps whistleblower identity confidential as long as possible under the law and whistleblower laws protect whistleblowers from retaliation by their employers. Our lawyers represent whistleblowers in their underlying whistleblower actions and also in any lawsuit for wrongful termination or other retaliation by their employer.
Whistleblowers should act promptly when they have credible information of any kind of fraud. In the reported case, the CFTC noted that the award, though sizeable, was reduced because the CFTC found the whistleblower delayed in bringing the fraud to the agency’s attention. James McDonald, Director of the CFTC’s Division of Enforcement noted that, “Although this award was substantial, it was reduced because of an unreasonable delay in reporting the violations. We hope this case illustrates the importance of reporting violations to the CFTC as soon as reasonably possible. Reporting early lessens the harm violators can inflict on the public and hastens our investigations to bring the culprits to justice.”
If you have information regarding a whistleblower/qui tam case in San Francisco or elsewhere in California involving the Commodities Futures Trading Commission Whistleblower Program, the Securities and Exchange Commission Whistleblower Program, False Claims Act cases, the Internal Revenue Service Whistleblower Office, banking fraud under FIRREA, or other illegal activity, contact Ingrid M. Evans and the other California whistleblower attorneys at Evans Law Firm at (415) 441-8669, or by email at <a href=”mailto:firstname.lastname@example.org”>email@example.com</a>. Our attorneys have experience with complex financial contracts and large insurance companies. We can help guide your case through a jury trial or toward an equitable settlement. We also handle cases involving physical and financial elder abuse, qui tam and whistleblower law, nursing home abuse, whole life insurance and universal life insurance, and indexed, variable, and fixed annuities.
 Evans Law Firm, Inc. was not involved in this case in any way.