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SEC Probes Its Conflicts with Madoff

By Mark H. Astarita, Esq.

div xmlns="http://www.w3.org/1999/xhtml"I cannot believe this is going on. I really thought I have seen everything in my 27 years of securities regulatory, compliance and litigation. I have seen frauds; outrageous frauds. I have seen extreme churning, outright unsuitability, flagrant market manipulation, and even a conflict of interest or two.br /br /But never have I seen a fraud this massive, with so many side stories.br /br /And just when you thought it was over, the SEC drops a bombshell - Cox admits that the SEC staff was aware of numerous red flags but did nothing, and in the next moments we learn that Madoff's niece, WHO WAS MADOFF'S COMPLIANCE OFFICER, is married to an attorney who worked at the SEC for 10 years, including positions as a senior inspection and examination official...continue to full post

Full post as published by SECLaw.com on December 17, 2008 (boomark / email).