Word: addelman
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...sure this is an unusual flow of Ponzis," says Katherine Addelman, SEC regional director in Atlanta. "But since Madoff, there's a lot more coverage. These cases are moving to the front page, and because of it more people are getting skeptical of these investments," she says. "They're more willing now to give information to us." Some Ponzi crooks are either so brazen or stupid, Addelman says, "they even solicit SEC staff members." (See pictures of TIME's Wall Street covers...
Most Ponzis Addelman sees are unregistered funds, so it's often "too late for us to stop the major damage." In the new SEC case against Ossie, however, "this was ongoing and he was still getting money from investors," she says. "We had to move fast to shut it down." (See pictures of the top 10 scared traders...
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