Bernie Madoff

REPORT OF INVESTIGATION UNITED STATES momentURITIES AND replace COMMISSION OFFICE OF tester GENERAL Case no(prenominal) OIG-509 Investigation of Failure of the bit To baffle Bernard Madoffs Ponzi Scheme Executive Summary The OIG investigating did non find distinguish that any(prenominal) secondment personnel who worked on an authorization question or probe of Bernard L. Madoff Investment Securities, LLC (BMIS) had any pecuniary or occasion(a) inappropriate link with Bernard Madoff or the Madoff family that influenced the remove of their run or investigatory work. The OIG as well as did not find that former secondment Assistant coach Eric Swansons romantic relationship with Bernard Madoffs niece, Shana Madoff, influenced the conduct of the SEC examinations of Madoff and his firm. We also did not find that senior officials at the SEC directly try to influence examinations or investigations of Madoff or the Madofffirm, nor was on that point evidence any senior SEC official interfered with the staffs might to perform its work.

The OIG investigation did find, however, that the SEC current more than coarse education in the form of fine and substantive complaints over the days to warrant a extreme and comprehensive examination and/or investigation of Bernard Madoff and BMIS for operating a Ponzi scheme, and that despite lead examinations and ii investigations being conducted, a everlasting(a) and competent investigation or examination was never performed. The OIG put that between June 1992 and celestial latitude 2008 when Madoff confessed, the SEC received sixsome! substantive complaints that raised distinguished red flags concerning Madoff s duck fund trading operations and should hurl led to questions well-nigh whether Madoffwas actually engaged in trading. Finally, the SEC was also certified of two articles regarding Madoff s coronation operations that appeared in well-thought-of publications in 2001 and questioned Madoffs unusually tenacious returns. The scratch complaint, brought to the SECs attention in 1992,...If you want to get a mount essay, order it on our website: Orderessay

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