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The U.S. Securities and Exchange Commission is giving $22 million, its second biggest payout ever, to a corporate insider who helped the regulator uncover a well-hidden fraud. The award was the largest since a $30 million payment announced in 2014.
The whistleblower provided a “detailed tip and extensive assistance” that helped the SEC stop illicit conduct at the individual’s employer, according to a statement released Tuesday. The agency didn’t provide any information on the person’s identity or the company involved, citing federal law and the need to protect confidentiality.
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