The Securities and Exchange Commission (SEC) has rewarded three whistleblowers for tips and information they provided to help the SEC and Justice Department stop a sham hedge fund. The whistleblowers will each receive 5 percent of the money that the SEC ultimately collects from its enforcement action against the fund, Locust Offshore Management reward, and its CEO Andrey C. Hicks. The reward is expected to ultimately reach $125,000 total as additional assets are collected from Hicks.

Hicks pled guilty in 2012 to five counts of wire fraud and consented to the forfeiture of his interest in property seized by the Justice Department. He was sentenced to 40 months in prison.