Madoff critic: Fraud case "gift-wrapped and delivered" to SEC

02/5/2009 | Financial Times (free content)

Harry Markopolos, who nine years ago highlighted an alleged Ponzi scheme that is now the basis of charges against Bernard Madoff, blamed the Securities and Exchange Commission's failure to act on "investigative ineptitude and financial illiteracy" by agency lawyers. "I gift-wrapped and delivered the largest Ponzi scheme in history to them," he said during a congressional hearing. The hearing also saw the disclosure of Madoff's client list. Click here to view the list.

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