SEC Reveals its Own Bungling in Madoff Case

WASHINGTON (CN) - After his arrest, Bernard Madoff said he could not understand why the SEC was so incompetent it did not perform the most basic tasks that could have caught his $61 billion Ponzi scam nearly a decade earlier. The SEC has posted 6,000 pages from its investigation of its own incompetence: "Investigation of Failure of the SEC To Uncover Bernard Madoff's Ponzi Scheme."

Subscribe to Closing Arguments

Sign up for new weekly newsletter Closing Arguments to get the latest about ongoing trials, major litigation and hot cases and rulings in courthouses around the U.S. and the world.

Email *

Submit