Whistleblowers are individuals who have information about fraud or other wrongdoings that are targeting the government. To incentivize reporting this information, Congress has passed laws providing monetary awards to someone who submits information leading to a prosecution or administrative action against a fraudulent party.
There are different options for whistleblower rewards in South Carolina. Some pursue compensation under the False Claims Act, while others might rely on programs operated by the SEC (U.S. Securities and Exchange Commission) or CFTC (Commodity Futures Trading Commission).
In any of these cases, the support of a dedicated whistleblower attorney could be valuable. Call our law office today to learn more.
The most common way for citizens to seek rewards for blowing the whistle on fraud in South Carolina is through a qui tam lawsuit. This type of legal action allows the filer to recover a monetary award if they give the government evidence of fraud. The award is based on a percentage of anything recouped in a successful prosecution brought on by the provided information.
These lawsuits are possible following a breach of the False Claims Act. Federal law prevents government contractors from falsely submitting requests for payments. These laws also apply to fraud related to government-backed loans or Medicaid.
In addition to the False Claims Act, several sections of the federal government have their own whistleblower programs. While they operate similarly to qui tam lawsuits, these situations involve working directly with the agency in hopes of obtaining an award.
If the whistleblower’s original information leads the SEC to recover at least $1 million from the offender, it can trigger a reward of between 10 and 30 percent of the total amount collected. However, the SEC can also voluntarily increase these payments.
The SEC might increase the award if the information played a crucial part in the enforcement action and the outcome of those proceedings. More compensation might be available if the outcome of the case is likely to deter similar activities in the future.
The CTFC regulates futures trading, but there are many transactions and rule violations yearly. To combat this behavior, the CTFC offers whistleblower rewards.
This program also provides compensation between 10 and 30 percent of whatever the CTFC recovers from the offender. A claim will only be awarded if the information is unique and results in a conviction.
One of the major benefits of this program is that it offers a level of anonymity that others do not. In addition to recovering whistleblower awards in South Carolina, it is possible to do so without the public learning of that person’s identity.
In some cases, an attorney could help pursue a claim without identifying the party providing the information.
You might be entitled to whistleblower rewards in South Carolina if you have information about fraud or wrongdoing targeting the government. The right legal professional could provide you with a path to securing compensation while protecting you from retaliation.
Do not hesitate to partner with a hardworking lawyer today to help file your claim. Reach out to our office to speak with a member of our legal team and learn more about your options.
