TESTIMONY OF HARRY MARKOPOLOS, CFA, CFE. CHARTERED FINANCIAL ANALYST, CERTIFIED FRAUD EXAMINER BEFORE THE U.S. HOUSE OF REPRESENTATIVES COMMITTEE ON FINANCIAL SERVICES. WEDNESDAY, FEBRUARY 4, 2009.
Markopolos has an Army SOF background, and has been investigating Madoff and feeding info to the SEC on him since 2000. He handed Madoff to the SEC on a platter, and they did nothing with it. Accordingly, he shares his opinion of the SEC in part II of his testimony. Markopolos did an excellent job this morning. See the video here.
The SEC seems to be a captive agency that purposely ignores the large frauds....
Hmm, sounds familiar.