The NY Times reports that the Justice Department has decided not to pursue an investigation into the role played by a former top lawyer at the Securities and Exchange Commission in the calculation of payouts to victims of Bernard L. Madoff’s Ponzi scheme.
The potential investigation was referred to federal prosecutors this fall after a report by the inspector general of the S.E.C. That report raised questions about why David M. Becker, the agency’s general counsel from 2009 until early this year, was allowed to participate in commission discussions about the compensation of Madoff victims, despite Mr. Becker’s own financial interest in the result. Mr. Becker inherited money in a Madoff account from his mother several years before Mr. Madoff’s fraud became public…
Read more at http://www.nytimes.com/2011/11/09/business/justice-dept-wont-investigate-david-m-beckers-madoff-ties.html?_r=1
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