Nordgaard Whistleblower

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Recommended: Companies and the Sarbanes-Oxley Act

Whistle blowing has often been viewed as a negative connotation to describe someone who chooses to unveil facts or practices in an organization, be it federal, public, private, or non-profit, in order to make known these evidences to the public or governing authority. It has only been fairly recently in history that whistle blowing has started to be seen as a positive entity that exists to hold organizations accountable for the choices they make. “Whistleblowers are people who decide to report unethical or illegal activities, usually activities under the control of their employers” (Halbert and Ingulli, 2012). The antithetical to a whistleblower would be someone who does not to report an illegal activity or an unethical practice, but decides …show more content…

As Chief trader Nordgaard was directly related to the practices of the company and it was part of his job description to oversee the trades that were occurring for this company. His job was directly related to the illegal trading that was taking place. Because of this Nordgaard was justified in disclosing the fraud and it was in his best interest to be disloyal to Paradigm. As Chief trader he would be found guilty of not disclosing this information if an audit were to find the malpractice of not getting the consent of the …show more content…

Nordgaard received after being identified as a whistleblower. Weir apologized to the SEC regarded the illegal trades and paid their fine and assured them it would correct the practice. However, Weir retaliated against Mr. Nordgaard and was found to be in violation of the Sarbanes-Oxley Act of 2002. “On July 17, the day after he revealed himself as a whistleblower, Pardigm informed the whistleblower that he would be removed from Pardigm’s trading desk and temporarily relieved him of his day-to-day trading and supervisory responsibilities…Pardigm further directed the whistleblower to work offsite...between July 18 and July 20, Paradigm, on the advice of counsel, denied the whistleblower access to certain Pardigm trading and account systems…denied the whistleblower to his existing e-mail account…(Mont, 2014). Mr. Nordgaard eventually resigned because it was clear Pardigm was not going to allow him to work at their company with the proper resources and equipment needed to do his work. These actions were a direct violation of the SOX and received consequences and independent advisors to monitor their

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