Tag: Sovereign Immunity

NY investor files $1.7 million claim against SEC for negligence in Madoff probe

Phyllis Molchatsky, a 61-year-old retiree from Valley Cottage, NY, who lost nearly $2 million investing with Bernard Madoff, filed a claim against the SEC on Monday.  The administrative claim alleges that the SEC was negligent in failing to detect alleged Madoff’s alleged fraud, the WSJ reports, and seeks $1.7 million in damages. Howard Elisofon, the lawyer who filed the case,…

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