Reaching out to the authorities may take much longer or even be ignored, and causing a PR stink may be a much more effective approach. As an example, the SEC was contacted with regards to Bernard Madoff likely running a ponzy scheme as early as 1999, yet went largely ignored for a decade.
Just because you contact authorities doesn't necessarily mean they believe you or even care, regardless of how much actual evidence you have (of which the OP has presented none, by the way.) Causing a PR stink raises the profile of the issue, and could be a much more effective approach to getting the authorities attention.
That said, I don't believe OP's story for a second, for many of the same reasons other have cited. If this was a true case of whistle blowing, there would be tangible evidence but the OP has presented none.