Issa Issues Subpoena on Ex-SEC Lawyer, Madoff

Irving Picard, the trustee in the Bernie Madoff case, has gone after ex-SEC general counsel David Becker, who inherited some Madoff money when his mother died. Now California GOP Rep. Darrell Issa, chairman of the House Oversight and Investigations Committee, is hot on Becker’s trail too, Politico reports.

Rep. Darrell Issa, R-Calif.

Issa has issued a subpoena to Picard for “all documents” on the family account of David Becker, who was involved with the SEC’s activity relating to Madoff.

Issa’s committee is investigating how long Becker’s family was involved with Madoff. Issa also is trying to find out how involved Becker was in determining the amount of payouts to Madoff victims.

“Victims of the Madoff swindle rightly feel cheated by the SEC’s ineptitude,” Issa said in a statement. “The decision to allow David Becker to work on the Madoff case, despite family earnings from a Madoff account, necessitates answers.”