A report from the United States Securities and Exchange Commissions reveals that there were 69 whistleblower tips from India between October 2013 to September 2014, making it the second largest source of such leads outside of US. The number of leads from India is almost at par with UK, which generated 70 tips to become the largest source for such tips. Indians had reported only 18 such clues between October 2012 to September 2013.
Within a year and half of Ranbaxy whistle-blower Dinesh Thakur bagging $48 million by revealing company’s misadventures, there has been a fourfold jump in the number of Indians reporting secret tips about misconduct and fraudulent practices to the US watchdog.Thakur worked with multiple US agencies for eight years to expose dubious practices at Ranbaxy which ended up in the company pleading guilty to lapses in manufacturing and data-documentation and agreeing to pay $500 million in May 2013.
The uptick in interest levels largely to Thakur’s high profile case and the publicity generated around it. US whistleblower laws allow people from across the world to report complains online, through mails and faxes. The whistleblowers are entitled to a reward, if their tip leads to the collection of more than $1 million in monetary sanctions. For instance, this could range between 10 to 25% of the total recoveries of the government under the False Claims Act of the US federal law.
Jeffrey Newman represents whistleblowers.