June 23, 2018

Whistleblowers

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Sarbanes-Oxley 15 Years Later: Accountants Need to Speak Up Now More Than Ever

This Sunday, July 30, 2017, marks the 15th anniversary of the enactment of the Sarbanes-Oxley Act (“SOX”) of 2002. SOX emerged after the “smartest guys in the room” caused Enron to implode, and WorldCom magically erased billions in earnings overnight. The scandals shook the public’s confidence in the reliability of financial reporting and led to […]

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Exposure Drafts: Some SEC Whistleblowers Do It for Love, Not Money

Exposure Drafts appears every other Wednesday. Send suggestions to [email protected]

Accounting News Roundup: Unsatisfied Whistleblowers and RIP Eddie Antar | 09.12.16

Unsatisfied whistleblowers Whistleblowers go through a lot to expose wrongdoing. Their lives are turned upside down for years — loss of jobs, income, etc. — and sometimes it's all for nothing; the company is never held accountable and everyone moves on. This was not the case for the Monsanto whistleblower who was awarded $22 million. […]

Ex-PwC Employee Was Looking for Training Documents When He Found LuxLeaks Files

Bloomberg reported yesterday that one of the ex-PwC employees responsible for LuxLeaks "was actually looking for training documents when he stumbled upon the files." That sounds less like a “quirk” and more like some idiot naming a folder: “HOW TO: MASSIVE INTERNATIONAL TAX AVOIDANCE.”     

White-Collar Crime Watch: a Whistleblower, a Hero Helicopter Pilot and a Dirty CPA Who Cleaned Money

This month in white-collar crime: Will you use your accounting skills for good or for evil? A new money-making scheme for all of usFun fact: in 1925, a scrap-metal dealer bought the Eiffel Tower from an Austro-Hungarian con-man named The Count. Instead of selling international landmarks to unsuspecting scrap dealers –- which I've considered and […]

Bonus Watch: Anonymous Whistleblowers

Things are looking pretty good for someone who will not be named in the matter of something that will not be mentioned: The Securities and Exchange Commission today announced a whistleblower award of more than $3 million to a company insider whose information helped the SEC crack a complex fraud.  The multi-million dollar payout is […]

This Massive SEC Whistleblower Award Will Make You Wish You’d Seen Something and Said Something

The Securities and Exchange Commission today announced an expected award of more than $30 million to a whistleblower who provided key original information that led to a successful SEC enforcement action.  The award will be the largest made by the SEC’s whistleblower program to date and the fourth award to a whistleblower living in a […]

Crime May Not Pay But Whistleblowing Certainly Does

The Securities and Exchange Commission today announced that the whistleblower who received the first award under the agency’s new whistleblower program will receive an additional $150,000 payout after the SEC collected additional funds in the case. The whistleblower, who the SEC did not identify in order to protect confidentiality, has now been awarded a total […]

IRS to Whistleblower: “Thanks for the worthless tip. We Award You No Points.”

The Internal Revenue Service has rejected a reward claim made by a whistleblower, former banker Joseph Insinga, who had sued the agency in a closely watched case. In a letter dated April 15, the IRS told Insinga that he was not entitled to a reward. A copy of the letter was provided to Reuters by his […]

In Case You Missed It: IRS Whistleblower Bradley Birkenfeld Is Fully Aware of His Awesomeness

If you've ever met a whistleblower, or heard one give a speech, you never get the sense that they're too caught up in their 15 minutes, marching around to the beat of their kick ass do-gooderness. Typically, it's more of a matter-of-fact story and less a reflection on the heroic moments that turned an ordinary […]