MedGen Inc (MDIN)

[Scumbag Fraudsters]

Whistleblower $279M, harmed investors $0.

Whistleblower awards can range from 10 to 30 percent of the money collected when the monetary sanctions exceed $1 million.

So the SEC recovered at least $2.79B thanks to the 'blower, and ZERO went back to investors as per usual.

SEC recovered monies from Barton et al, but when I asked where it had gone, their reply was: "In the matter of SEC v Raymond Barton, a distribution was not ordered. Any funds to be collected were transferred to treasury."

What a racket! Shareholders lose money, SEC collects it, Treasury keeps it to pay whistleblowers.

Payments to whistleblowers are made out of an investor protection fund, established by Congress, which is financed entirely through monetary sanctions paid to the SEC by securities law violators.

Wonder how much Chieco got paid for blowing Ray's whistle?