It is hard to believe that it has almost been five years since the revelation that Bernard Madoff’s wildly successful investment firm was actually a multibillion-dollar Ponzi scheme, but the five-year anniversary of Madoff’s December 2008 confession to authorities is fast approaching. Because securities fraud charges have a five-year statute of limitations, the next few months could bring charges against additional individuals and entities involved in the Madoff scheme.
via Five-Year Anniversary of Madoff Revelations May Spur Additional Charges – Compliance Week
One response to “Five-Year Anniversary of Madoff Revelations May Spur Additional Charges – Compliance Week”
There are many tragedies associated with the Bernard L. Madoff investement scam. One continuing tragedy is that nothing has been learned from all of this. Wall Street still controls Congress, the SEC still protects its own, as well as SIPC, which was created in 1970 to safeguard investors when stock certificates became obsolete and investors could only rely on brokers’ statements as proof of investements. SIPC no longer recognizes brokers’ statements as proof of investment.
Oh yes, excuse me, one thing has been learned. If you’re going to swim with the sharks, you’re gonna get eaten!