SEC Rewards Three Whistleblowers in Related Criminal Action

The SEC announced the payment on August 30, 2013 of a combined $25,000 to three whistleblowers for the help they provided the SEC in its enforcement action against Locust Offshore Management and CEO Audrey Hicks.  

As stated in the SEC’s Order issued June 12, 2013, the whistleblowers were to each be rewarded with 5% of the money the SEC ultimately collects from the enforcement action.  In its subsequent August 30, 2013 Order, the Commission approved 5% payouts to be awarded to each whistleblower from the money collected in a related criminal proceeding brought by the U.S. Department of Justice.  Approximately $170,000 had been collected in the criminal proceeding, such that the whistleblowers will now receive around $25,000.

This payment represents the first installment of the total $125,000 the whistleblowers are expected to receive. They will receive the additional payments after additional monies are collected.

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.