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

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

Harry Markopolos, who nine years ago mentioned a Ponzi scheme allegedly run by 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 U.S. congressional hearing.

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