SEC Makes Its Second Dodd-Frank Whistleblower Award

The Securities and Exchange Commission entered an order issuing its second award under the Dodd-Frank whistleblower program.  The award arises from an enforcement action the SEC filed in the District of Massachusetts in 2011 against Locust Offshore Management LLC and Andrey C. Hicks, its chief executive, alleging that Locust and Hicks committed fraud by offering to sell shares in an investment fund that “turned out to be wholly fictitious.” The order, issued June 12, 2013, awards three whistleblowers, who voluntarily provided original information to the SEC that led to successful enforcement of the action, 5% each of the monetary sanctions that it ultimately collects.

If you believe you have a tip under the SEC Whistleblower Program, contact attorney Ian McLoughlin at, or call (617) 439-3939 or (800) 287-8119.  Alternately, click here to contact us through our website.