The second largest whistleblower award has been granted to a client of Labaton Sucharow by the SEC. Now in its sixth year the Whistleblower program is making a difference in the financial sector, and awarding money to those who are brave enough to point out the illegal behavior they witness in their work.
After the financial crisis in 2008, in an effort to keep financial companies honest -and avoid a repeat of the financial crisis- government officials and the Securities and Exchange Commission established a SEC Whistleblower Program to protect and reward whistleblowers who report fraudulent activities. If enforcement action and fines are pursued due to the information the whistle-blowers provides, they may be eligible for significant monetary rewards.
Secwhistlebloweradvocate.com, says that the program allows whistleblowers to remain anonymous. Their goal is to make it as safe as possible for employees to report fraud so that current laws can be enforced. The protections in the law allow whistleblowers to report fraudulent activities in the company that they work for without worrying about retaliation from their employer. If the employee decides to reveal their name there are also provisions which allow the SEC to fine companies that retaliate. The SEC has Aall ready brought successful charges against a company that actually did retaliate after a whistleblower acted.
The program also has a fund which can be used to pay whistleblowers part of the fines collected after a successful sanction or fine. This incentive comes with certain conditions that must be met. Some of the requirements are sanctions imposed on the company must exceed $1 million. If that threshold is met then the whistleblower is eligible to receive between 10-30% of the monetary sanctions collected due to a successful SEC enforcement action.
According to PR Newswire article, a recent success of the SEC Whistleblower program is evidenced by Labation Scuharwo’s win in a financial services industry case. Thanks to the information provided by an anonymous whistleblower, the case resulted in fines and sanctions on the company that committed violations. Labation Scuharwo’s client will now receive more than $17 million.
The success of the Whistleblower program drafted by Jordan A. Thomas is making an impact on the financial sector. With the knowledge that employees now have the incentive to report fraudulent actions and firms like Labaton Sucharow which specialize in Whistleblower cases, it is hoped that instances of fraud will be discovered and dealt with more promptly.
Learn more about SEC Whistleblower Lawyers
Prominent New York legal practitioner Ross Abelow recently announced the inauguration of a unique GoFundMe campaign, which will assist stray dogs. Funds raised will be channeled towards helping animal shelters in the city of New York to provide the homeless animals with necessary support. The campaign, which was inaugurated on January 13th, intends to crowd source 5,000 dollars.
This winter has experienced record low temperatures. With such climatic conditions prevailing, homeless and stray animals are at risk due to their lack of shelter from the excessively cold climatic conditions. Funds raised by the campaign will therefore be used to help the animal shelters pay for the medical care of the strays. In addition, vaccines, foodstuff and blankets will also be provided to the burgeoning number of stray and distressed animals. Most of the shelters are currently unable to admit more stray animals due to spatial and monetary insufficiencies. The money will therefore go a long way in relieving the suffering undergone by the strays.
The campaign is Mr. Abelow’s way of getting involved in local-based projects. He hopes that his extensive network will help raise sufficient monies for the benefit of the strays. Being an animal lover, he is concerned by the lack of space to accommodate more strays. The campaign will ultimately avert animal deaths, which has been a common occurrence whenever winter sets in. incidences of sick and hungry dogs are likely to be a thing of the past if this campaign is something to go by.
Ross Abelow’s Résumé
Mr. Abelow is an accomplished New York attorney and a partner at Abelow and Cassandro LLP. He has carved a niche for himself by being one of the most renowned family, entertainment and commercial litigation lawyers in the city. With an experience spanning close to three decades in the legal field, he is a much sought lawyer who not only offers legal representation but also gives legal advice. His friendly demeanor is translated to those working at the law firm. They are always willing to listen to the needs of clients.
Since getting into the legal practice, Abelow has helped hundreds of clients especially those who are involved in divorce and entertainment cases. His versatility has seen him take on some of the most complex cases and still emerged victorious. His success rate attests to the attention that he gives each case that comes his way. Abelow is an alumnus of the State University of New York at Albany and the Brooklyn Law School.
Launch Of GoFundMe Campaign By Ross Abelow Benefits Strays