Wall Street is suddenly paying attention to the culture of whistleblowing, because the new Dodd-Frank financial reform law, for the first time, extends whistleblower provisions to Wall Street, meaning employees who expose fraud and wrongdoing stand to collect between 10 and 30 percent of the amount recovered by the government.
Bradley Birkenfeld once lived the high life as secret Swiss banker at UBS in Geneva. Then he delivered some of the world’s best-kept secrets to the US government, expecting a great reward. And now he sits in federal prison in Pennsylvania.
Cheryl Eckard became the largest individual whistleblower award recipient ever, hauling in a $96 million bounty as her reward for providing information to the government about manufacturing problems at GlaxoSmithKline.