January 4, 2019
To Whom This May Concern:
On December 12, 2018 a settlement was reached with three developers regarding a fraudulent EB-5 offering. See: https://www.sec.gov/news/press-release/2018-279.
Despite the settlement being completed on December 12, 2018 and the monetary recovery already completed, the SEC has not posted a NoCA regarding this case. See https://www.sec.gov/whistleblower/claim-award.
Given that the monetary recovery has already been completed and the settlement already executed - why has the OWB not posted the NoCA on the OWB website?
The SEC is currently debating proposed rules that institute a number of fundamental and very controversial changes to the SEC's Whistleblower Program for the purpose of reducing the backlog of claims. However, if the SEC simply posting NoCA in a timely manner the SEC could reduce the backlog, speed up processing of claims, better take care of Whistleblowers, and more effectively run the Whistleblower Program WITHOUT any new rules.
I look forward to receiving a response as to why these very basic improvements are not being implemented despite the growing pressure and significant backlog.