Peter Scannell, a whistleblower that cost Putnam Investments $193.5 million in state and federal settlement charges for alleged market timing, on Tuesday, was denied a $15 million reward sought by the former call-center operator in Quincy, Massachusetts, the Boston Herald reports.  

David R. Kerrigan, Attorney General Tom Reilly's government bureau chief, praised Scannell's assistance in uncovering wrongdoing at the Boston mutual fund giant, but ruled that he does not meet the law's requirements of a whistleblower. Therefore, he is not eligible for the 30% compensation of Putnam's fines to the state of Massachusetts, outlined under the state's False Claims Act.

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