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Join the Securities Litigation and Enforcement Group on LinkedInSecurities Docket News Wire for Dec. 21, 2008
Report: SEC in “state of complete panic” over Madoff mistakes. http://is.gd/cNB7 # Copies of SEC Enf. memo opening probe into possible Madoff Ponzi scheme, and closing memo saying no fraud found. http://is.gd/cNvI # The FBI shifts agents from terror and other crimes to Wall Street investigations including Madoff scheme and subprime. http://is.gd/cL3R #
Report: SEC in “state of complete panic” over Madoff mistakes
The recent revelation by Chairman Cox that the SEC failed to follow up on credible, specific tips that Bernard Madoff was running an alleged Ponzi scheme has reportedly “put the agency into a state of complete panic,” according to a “current long-serving member of the commission’s enforcement division” who spoke with the publication TPMMuckraker. According […]