Accordng to CNNMoney the Madoff Ponzi scheme continues to haunt the Securities and Exchange Commission. On Tuesday, the SEC's inspector general issued a widely anticipated report raising serious questions about a former top agency official.
The inspector general has referred the actions of David Becker, who left his post as the SEC's top lawyer in April, to prosecutors because of his alleged conflict of interest related to a family investment with Madoff. The claim, in effect, is that Becker worked on Madoff matters while at the SEC when he should have excused himself because of the personal interest.
According to the report, Becker and his two brothers inherited a $2 million account that his deceased mother had held with Madoff, the convicted swindler. At the same time, Becker played a key role in crafting the agency's methods for determining how much money victims of the Madoff fraud were able to "claw back" from funds recovered by the trustee in charge of compensation.
More? Check out http://money.cnn.com/2011/09/20/news/economy/sec_madoff_becker/index.htm?iid=HP_LN
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