"I gave them a road map and a flashlight to find the fraud, and they didn't go where I told them to go."---Harry Markopolos, Fraud investigatorFrom the House of Financial Services Committee website:
Witness List & Prepared Testimony:
Panel One
Mr. Harry Markopolos, an independent financial fraud investigator for institutional investors and others seeking forensic accounting expertise, as well as a Chartered Financial Analyst and Certified Fraud Examiner.
However, Markopolos wasn't the only one warning the feds.
CBS news website:This anonymous letter sent in April 2006 to the head of the SEC was obtained exclusively by CBS News. In it, SEC Chairman Christopher Cox is told that Madoff keeps two "sets of records. The most interesting of which is on his computer which is always on his person."
The letter was sent to Cox once on Dec. 6, 2006, and then again on April 26, 2006. The second letter has a note at the top saying, "Dear Sir, this is sent in the event you did not receive the original."
The letter is also stamped, "Received: 2006 March 31, Chairman's Correspondence Unit." The anonymous writer says Madoff is perpetrating a "scandal of major proportion ..."
But again, nothing happened.
As a reminder here, click to see the List of Bernie Madoff's Clients [pdf] .The customers include prominent people and institutions that already had been publicly revealed. The amount each person or institution invested with Madoff isn't listed.
Also this:
Late yesterday, a 162-page document filed with the U.S. Bankruptcy Court in Manhattan lists several thousand of the people and entities that handed money over to Madoff to "invest". Among the victims are some very well-known personalities - and even Madoff's own defense lawyer. Click here to read more.
3 comments:
How come Cox and those at the SEC aren't being held accountable for their actions? Big whoop that these losers go before Congress claiming, "we didn't know or we had closed the file". Accountability is such a rare commodity in this country for the well connected and rich.
Calm down Anon more will come out to show Cox and the dude before him knew all about the corruption. Cox was appointed to make sure things continued and he did his job. This scam wasn't thought up by Madoff alone. This was a wider plan that covered many people and businesses. Don't be surprised if you hear Alan Greenspan's name come up in the mix. When Bush/Cheney stole the Election the plan went into play. Every position of the US Govenment was planeted for corruption. Madoff is just a very small part of a much bigger picture. Look for other people to come forward as this case continues.
Actually, it's time to get really mad. It's time to take that anger and channel it somewhere so we don't have another Enron, WorldCom, Madoff, Abramhoff, AIG, Citi, Arthur Anderson, Satyam, etc., etc. ever again.
Geez Louise, how many of these bleeping idiots have to fleece people before someone actually does something real about it?
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