I agree. And if you both want to do this, and maintain some ethical standard, I would suggest getting a lawyer. Granted this is going to take some money, but find yourself a lawyer, and see what your options you have, realistically. This is the safest way to go about it.
There are whistle blower laws carved out all over the place, but they're often narrow, and complex. It's not the kind of thing you want to take lightly or without some extreme care.