Peter Scannell, the whistleblower who helped take down Putnam Investments, has resurfaced, having secured a job with the securities regulator who first charged the mutual fund company with fraud. Scannell, a former employee at Putnam's call center in Quincy, Mass., initially grabbed headlines when he told William Galvin, Massachusetts secretary of the commonwealth, that Putnam turned a blind eye as more than a dozen union members with retirement accounts at Putnam market timed its funds.

His testimony was a vital step in successfully bringing the first civil fraud charges against a mutual fund for market timing, a lawsuit that ultimately cost the company billions of dollars in lost assets and $100 million in fines. The move also sent shockwaves through the $7.9 trillion industry and emboldened New York Attorney General Eliot Spitzer to pursue similar suits against a number of other major mutual fund houses.

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