Tags: US | Madoff | Whistleblower

Madoff Whistleblower Softens Criticism of SEC

Friday, 02 Apr 2010 09:11 AM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink

A man who for years tried to warn federal financial regulators that Bernard Madoff was running a giant Ponzi scheme says the Securities and Exchange Commission is getting better at policing the industry, but needs to improve even more.

Harry Markopolos said at a business ethics conference at Suffolk University in Boston on Thursday that the SEC's changes have been "evolutionary, not revolutionary."

He said "it's not good enough" and that Wall Street can't police itself.

Markopolos, a private fraud investigator, tried to warn the SEC that Madoff's investment strategies did not make sense, but his concerns went unheeded. After Madoff was exposed, Markopolos became highly critical of the SEC.

Madoff is serving a 150-year sentence for running the $65 billion scheme.

© Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Michele Bachmann Gets Security Detail After Threat From ISIS

Monday, 20 Oct 2014 20:47 PM

Rep. Michele Bachmann has been given a 24-hour security detail based on a threat from the Islamic State (ISIS), Politico . . .

Kasich: GOP Governors Don't See Obamacare Going Away

Monday, 20 Oct 2014 20:05 PM

While Republicans in Congress shout, "Repeal Obamacare," GOP governors in many states have quietly accepted the law's ma . . .

Ebola Czar Not Starting Work Until Wednesday

Monday, 20 Oct 2014 19:57 PM

Ron Klain, the man appointed by President Barack Obama on Friday to head up the government's response to the Ebola virus . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved