Word: blowers
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Last weekend, reports began circulating of Thomsen's departure, just a few days after House Financial Services Committee members ripped her for failing to spot Madoff's alleged $50 billion Ponzi scheme and ignoring nine years of whistle-blower tips about the scam. (See pictures of the demise of Bernard Madoff...
...massive 162-page document shows Madoff's direct victims but does not list the many other thousands of entities, from banks to charities, that were burned in Madoff pension, feeder and subfeeder funds. In testimony yesterday before the House Financial Services Committee, Harry Markopolos, an early whistle-blower on Madoff's $50 billion Ponzi scam, said there were at least 14 known major feeder funds. (See pictures of the demise of Bernie Madoff...
Read "A Madoff Whistle-Blower Tells His Story...
...whistle-blower said in written and oral testimony that he and his associates did their best "to stop the most complex and sinister fraud in American history," but that no one at the SEC cared...
...chill that came with this program may have turned to a deep freeze in regard to Madoff. The same year the pre-authorization policy was enacted, SEC examiners gave Madoff's organization, after registering as an investment adviser, a clean bill of health. Just months earlier hedge fund whistle-blower Harry Markopoulos had given SEC enforcement officials 29 red flags about Madoff's $50 billion fund, presciently calling it the world's biggest Ponzi scheme. Nobody cared. (See pictures of the demise of Bernard Madoff...