Anonymous tip to the IRS pays of to the tune of $1.1 million

Who says you can't make money on Wall Street anymore? Apparently there isn't a shortage of insider information either. An anonymous Wall Street banker just hit pay-dirt when his investment in going anonymous paid gains of  $1.1 million for reporting a massive tax fraud by Enron, Bankers Trust and others. The anonymous tip first came to the attention of attorney Erika A. Kelton of Phillips and Cohen back in 1999. The reward  is one of the first rewards issued by a five-year old Whistleblower Office at the Internal Revenue Service (IRS). Kelton's anonymous client will be handsomely rewarded for her key role in exposing corporate corruption.

Monetizing and rewarding anonymous tipsters clearly pays off, not just for the IRS, but for society as a whole. Financial incentives should be used whenever possible to compel people to come forward with information that will expose corruption. The ability to send an anonymous email or message has never been more important. Providing financial rewards is great, but people also need to feel safe and secure when going out on a limb with potentially explosive information. Silent Sender salutes the anonymous tipster for their brave actions.

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