The News – Capital Media
The News – Capital Media
  • Former Monsanto Exec to Get $22.5M as Whistleblower

  • The Securities and Exchange Commission did not release the whistleblower´s name

, photo: Wikipedia

30 of August 2016 16:19:04

ST. LOUIS -- A former Monsanto executive who tipped off regulators about the agribusiness giant's accounting practices involving rebates for its Roundup weed-killer will get nearly $22.5 million as a whistleblower.The Securities and Exchange Commission announced Tuesday the payout comes out of the $80 million penalty the St. Louis-based company agreed to pay under a February settlement with the agency.That agreement resolved allegations that Monsanto Co. misstated its earnings by improperly disclosing the costs of a rebate program for Roundup. That had the effect of distorting Monsanto's earnings reports for 2009, 2010 and 2011.The whistleblower's name wasn't released. That person's attorney only identified his client as a former Monsanto financial executive.Tuesday's award is the second-biggest the SEC has given a whistleblower since a $30 million payout in 2014.



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