Thursday, May 25, 2023

WSJ: Tipster in Ericsson's bribery case awarded $279 million by SEC

The tipster who reported Ericsson to the U.S. Securities and Exchange Commission for bribery was awared $279 million under the government's cash-for-tips program, according to The Wall Street Journal. A tipster can be awarded between 10% to 30% of fines collected, depending on circumstances.

Ericsson resolved the case with the SEC in 2019, agreeing to pay a $1.1 billion fine. A subsequent issue led to Ericsson being fined an additional $207 million.

The identity of the tipster has not been disclosed.

(Paywall)

https://www.wsj.com/articles/record-279-million-whistleblower-award-went-to-a-tipster-on-ericsson-5af40b98?mod=hp_lead_pos6