When the SEC commenced another investigation in 2004, and the New York office asked Madoff for documents, the now-imprisoned businessman informed the team that he had already supplied the documents to a different office in Washington DC. The New York office was unaware of this, because of poor communication and its “failure to use [its] internal case-tracking system”. That investigation was closed after the SEC mistakenly believed it had been dealt with.
‘Enforcement 40’ for 2020
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