Tag Archive for ‘Ponzi’
Mary Schapiro, head of Securities and Exchange Commission, heads to Capitol Hill on Thursday to advocate for a funding increase, which Congressional Republicans have said that her agency doesn’t deserve. She has also been criticized for hiring a top lawyer for the SEC who had financial ties to Bernard Madoff, whose massive Ponzi scheme the agency failed to pursue for years.
When Bernard Madoff pleaded guilty to running the biggest Ponzi scheme in history, he insisted he was the lone perpetrator. But an investigation by ProPublica finds an alternate narrative is now emerging from the pile of Madoff-related litigation – one in which a small circle of men played knowing, integral roles in the scheme, in some cases benefiting more from it than even Madoff himself.
Harry Markopolos, the analyst who tried in vain to persuade the Securities and Exchange Commission that Bernie Madoff’s investment company was a Ponzi scheme, is interviewed by Comedy Central’s Jon Stewart.