IT'S A SATURDAY in a well-appointed room in a luxury hotel in a major American city and a man named Richard Overum has just escorted me from the lobby to brief me on my new identity. My directive: Embody a high roller. A man capable of signing a check for millions of dollars at a moment's notice. And, most important, a man looking to make an investment. I need to look perfect, Overum explains. Because tonight, I'll be shadowing him on a sting.
Richard Overum is not a member of law enforcement or a government official. He's something else: a rarefied practitioner in a line of work he's all but created for himself. He hunts businesspeople he suspects are breaking the law-a job that by virtue of oft-overlooked sections of federal law can end up paying remarkably well. Tucked into the Dodd-Frank Act, which Congress passed in the wake of the Bernie Madoff scandal and the economic calamity of the late noughties, are provisions meant to encourage people who spot signs of potential financial wrongdoing to come to the government with information. The incentive? If the agencies take enforcement action based on a tip resulting in sanctions in excess of $1 million, the law says, one or more whistle-blowers can earn an award equal to 10 to 30 per cent of what's collected.
Whistle-blower programmes were established at the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) to manage and investigate tips, and the calculus for awards depends on multiple factors, including the value of the information in making the case. But the payouts can be enormous. Recent cases have rewarded SEC whistle-blowers with $29 million, $38 million, and $104 million. Last year, the SEC cut its biggest cheque yet, issuing a payout of $279 million to one tipster who reportedly aided in a bribery case involving the Swedish telecom Ericsson that resulted in a more-than-billion-dollar settlement.
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Denne historien er fra August - September 2024-utgaven av GQ India.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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In Haider We Hope
The role of a fashion designer is one usually forged in chaos and fired down by “creative differences”. But on the eve of a new Tom Ford directorship, Haider Ackermann has never felt more free.
VIVA VARUN
Varun Dhawan on balancing fatherhood and film shoots, and the pressure of making the right choices.
PRATIK GANDHI'S QUIET EUPHORIA
The actor―who delivered a knockout performance in Madgaon Expresson the high of a hit and the pressure of sustaining success.
THE COMEBACK KID
Buoyed by his performance in Singham Returns, Arjun Kapoor doubles down on creativity.
SCRIPTING STARDOM
Vicky Kaushal on the thrill and terror of stepping onto a Sanjay Leela Bhansali set, charting an unconventional career, and making sense of the money game.
A TRYST WITH STARDOM
Triptii Dimri segued from her left-field roots straight to the animal park. The gamble has paid off.
WALKING A TIGHTROPE
Following the monster success of Stree 2, Rajkummar Rao opens up about navigating artistic fulfilment and box-office glory.
THE MAHARAJA OF MEHRAULI
It's been an action-packed year for Tarun Tahiliani, the emperor of Indian couture.
LONE WARRIOR
Kartik Aaryan on why, in an industry that only watches out for its own, he has to blow his own trumpet.
HITS AND HEARTBREAKS
Filmmaker Imtiaz Ali talks about redeeming himself with the extraordinary Chamkila, dealing with star-studded setbacks, and why we've forgotten to make love stories.
