Where to find family dog SEC Watchdog releases Madoff report?”
WASHINGTON (AP) – Pushing past years of “red flags,” investigators at the Securities and Exchange Commission bungled their probes of Bernard Madoff so badly that his multibillion-dollar fraud not only flourished but he used the exams to suck in new investors, an agency watchdog declared Wednesday. The report by the SEC inspector general found no smoking gun of corruption in the agency’s conduct toward the disgraced financier. Instead it painted a grim picture of an agency hobbled by incompetence – failing to pursue the most obvious leads – that cleared the way for Madoff to continue what could be the biggest Ponzi scheme in U.S. history for more than a decade. One of the most striking points in the report is that the investigations actually may have made things worse. “Madoff proactively informed potential investors that the SEC had examined his operations” and found nothing amiss, it says. The fact that three SEC inspections and two investigations failed to detect the fraud gave credi
