China’s whistle-blowers cashing in on SEC hotline

Reports on the GSK corruption scandal in China, Iraq and Poland have now extended to Jordan and cropped-fca-whistle-knives.jpgLebanon. According to reports, the allegations concerning Jordan and Lebanon are similar to those made about bribery in Poland. account, GSK allowed doctors to bring family members on paid business trips and in some instances swap business-class airline tickets for economy, with the doctor pocketing the difference, according to a Wall Street Journal report. It is further alleged that GSK staff paid certain doctors to attend lecture and presentations that may not have taken place.”  I asked GSK to confirm if the initial reports to the US government were made by a whistle-blower but they have so far declined to comment. I imagine they are rather busy at the moment. Anyhoo, it look like those with inside knowledge of how GSK operates in the jurisdictions named above did indeed take advantage of the US Securities and Exchange Commission‘s whistle-blower hotline to expose their employers and lift the lid on commonplace corrupt practices. The business of whistle-blowing is taking off in China, with one specialist law firm offering people the chance to “uphold justice and win a huge bounty too.” The rewards may be long in coming, one woman who exposed alleged wrong-doing at JP Morgan Chase has been dealing with ‘a morass of  lawsuits‘ with her former employer since 2009. That said, a man who exposed dodgy loan schemes at the same bank received a USD64m reward for his efforts in March this year. That is ten per cent of the USD614m fine the bank had to pay out.

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