What they fail to realize is there may be a number of "traps" in place. Calls to the SEC and to others may be building a nice little paper trail.
A question for you...
In those circumstances, who, exactly, would one call at the SEC if one wanted to report suspected fraud? The help desk? That won't get you very far. Their job is to answer questions about policies and procedures.
They want you to fill out their "complaint" or "tip" form. Generally speaking, that's like throwing stones into a well. They do read the complaints, and sometimes they act on them, but only if the information offered is factual and specific.
What you're really talking about here is EIGH. It was said that the SEC suspended because it was getting "hundreds of calls a day". Who said that? Monk did. The SEC would not have told him that.