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 This material may not be published, broadcast, rewritten or redistributed.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

Pennsylvania Police Identify Suspect in Deadly Trooper Ambush

Tuesday, 16 Sep 2014 17:06 PM

Pennsylvania state police on Tuesday identified Matthew Eric Frein, described as an anti-law enforcement survivalist, as . . .

Battle Over Internet Service Regulation at FCC Rages Onward

Tuesday, 16 Sep 2014 16:46 PM

The Federal Communications Commission received more than 3 million comments regarding its authority over the nation's In . . .

Grand Jury to Weigh Case of NASCAR's Tony Stewart

Tuesday, 16 Sep 2014 15:02 PM

A grand jury will decide whether NASCAR driver Tony Stewart will be charged in the August death of a fellow driver at a  . . .

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

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