The world's most inept regulator may have had more motives than mere stupidity for ignoring the glaring Madoff fraud.
Aside from Markopolous' clear evidence against Madoff, that he spelled out in a way that even community college JDs and analysts at the SEC could understand, their own lawyer found suspiciously mismatched trades and inconsistencies in strategies. Her boss told her to make like Helen Keller, however, because it would create a few awkward moments at his upcoming wedding. I wonder if he'll be kind enough to offer his homeless aunt a couch to crash on.
Aside from Markopolous' clear evidence against Madoff, that he spelled out in a way that even community college JDs and analysts at the SEC could understand, their own lawyer found suspiciously mismatched trades and inconsistencies in strategies. Her boss told her to make like Helen Keller, however, because it would create a few awkward moments at his upcoming wedding. I wonder if he'll be kind enough to offer his homeless aunt a couch to crash on.
A lawyer in the SEC’s Office of Compliance Inspections and Examinations, assigned to look into Madoff’s relationship with hedge funds, told her supervisor that information provided by the now-convicted Ponzi schemer didn’t add up. Walker-Lightfoot’s investigation uncovered a slew of inconsistencies in documents and filings from Madoff. She brought the matter to the attention of her supervisors, one of whom would go on to marry Madoff’s niece. He then told Walker-Lightfoot to hand her Madoff findings over to another SEC lawyer; shortly thereafter, the material was boxed for transfer. |
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