This Is Not a Blog. It’s a Live Whistleblower Case — Published as It Happens.
My name is Jeremy Roseberry. I’m a former infantry Marine, a fintech founder, and for the last six years, a federal whistleblower to the SEC, the IRS, and the DOJ.
How This Case Found Me
I’m the CEO of FairShares, Inc., and the principal inventor on a portfolio of U.S. and international patents on technology that makes markets fair and efficient — including the technology that fixes the problem the fund industry itself named “buying a dividend.” Buying a dividend is a defect in how investment funds price their shares, and it causes an estimated $100 billion a year in losses for roughly 160 million Americans due to inflated fees and unjust taxes on income that was never earned.
I spent 8 years presenting that fix across the industry. Executives and gatekeepers agreed it worked. Some engaged on implementing it — then spoke with their fund-company clients and walked away. One put the reason into a sentence I later swore into the federal record: “Investment managers are billing on the [inflated] net asset value.”
The fix was rejected because the defect is profitable.
So I Reported It
On June 22, 2020, at 11:14:48 a.m., the SEC’s own intake system stamped my sworn whistleblower submission — filed by Sean McKessy of Phillips & Cohen LLP, the first Chief of the SEC’s Office of the Whistleblower and the principal architect of the program itself. The SEC now claims this record does not exist.
What followed is the story this publication tells: six years of government silence, a 375-page sworn Petition for Rulemaking (SEC File No. 4-891 — Google it; it sits on the Commission’s public docket), a federal lawsuit — Roseberry v. SEC, U.S. District Court for the District of Columbia, filed pro se — and the evidence itself, published one exhibit at a time on The Docket.
Consulting
That history leaves me in an unusual position: I’m likely the only person who has spent a decade inside this problem from every side — as its principal inventor who quantified the harm using a series of algorithms and equations and built the software to fix it, as the counterparty who presented the fix across the industry, and as the whistleblower who reported what happened next. I consult in two lanes.
For counsel and litigants: expert consulting and litigation support on buying-a-dividend mechanics, damages quantification, and the documentary record — for firms evaluating or prosecuting claims on behalf of harmed investors.
For financial institutions: remediation consulting for any firm that decides to fix this and protect its investors. The door the industry closed in 2020 is still open — and I’d rather help a firm correct the defect than watch it defend one.
Contact
Consulting: Consulting@pagproject.com
Press: Press@pagproject.com
Corrections (per our Terms § 11): Review@pagproject.com
Join the Fight
If you’re sick of watching it — institutions hijacked by the corporations they were built to police, a government that answers to special interests and the politically connected, one justice system for them and another one for us — then understand something: this project was built for you.
Complaining hasn’t touched it. The machine prices complaints at zero. What it has never survived is citizens who stop complaining and start enforcing — and the law provides the role: a Private Attorney General. A citizen enforcer. A prosecutor of last resort. No law degree required. No firm. No one’s permission.
This case — the largest financial fraud in American history and the government that profits from it — is the first matter before the Private Attorney General Project. It is not the last.
Join the PAG Project. Become a citizen enforcer — subscribe free, and every exhibit lands in your inbox the moment it enters the record. Bystanders are how this scheme survives. Citizen enforcers are how it dies.
You’re early. Enlist.
Three ground rules on engagements. I'm not a lawyer, and consulting is not legal advice or legal services — litigation support means subject-matter analysis for counsel, who make all legal judgments. Consulting engagements buy expertise; they do not buy coverage, silence, or editorial influence — this publication's reporting is not for sale to its subjects, and material engagements relevant to a story will be disclosed in it. Nothing on this site is legal, tax, or investment advice. See our Terms of Service, Substack’s Terms of Service, and our full Legal Disclaimers for additional detail.
