Bernie Madoff

REPORT OF INVESTIGATION UNITED STATES momentURITIES AND EXCHANGE COMMISSION part OF tester GENERAL Case No. OIG-509 Investigation of reverse of the bit To endanger Bernard Madoffs Ponzi Scheme Executive Summary The OIG analyse did not demote evidence that both(prenominal) endorsement personnel who worked on an endorsement question or investigation of Bernard L. Madoff Investment Securities, LLC (BMIS) had any financial or somaer(a) inappropriate connection with Bernard Madoff or the Madoff family that influenced the study of their examination or investigatory work. The OIG besides did not find that former reciprocal ohm Assistant Director Eric Swansons romantic race with Bernard Madoffs niece, Shana Madoff, influenced the conduct of the SEC examinations of Madoff and his firm. We also did not find that ripened officials at the SEC directly attempted to influence examinations or investigations of Madoff or the Madofffirm, nor was on that point evidence any old SEC official interfered with the staffs might to perform its work.

The OIG investigation did find, however, that the SEC get more than coarse information in the form of detai direct and substantive complaints over the years to warrant a thorough and comprehensive examination and/or investigation of Bernard Madoff and BMIS for direct a Ponzi scheme, and that despite lead examinations and two investigations being conducted, a thorough and competent investigation or examination was neer performed. The OIG found that between June 1992 and celestial latitude 2008 when Madoff confessed, the SEC received six! substantive complaints that raised important red flags concerning Madoff s he dge fund trading operations and should hur! l led to questions about whether Madoffwas actually engaged in trading. Finally, the SEC was also aware of two articles regarding Madoff s investment operations that appeared in reputable publications in 2001 and questioned Madoffs unusually consistent returns. The scratch complaint, brought to the SECs precaution in 1992,...If you want to get a mount essay, array it on our website: OrderEssay.net

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