Madoff whistleblower and SEC top enforcer to testify before Congress



image Bernard Madoff’s whistle-blower and the U.S. Securities and Exchange Commission’s top enforcer will testify before Congress this week on how the SEC failed to uncover Madoff’s $65 billion fraud, a congressional panel said on Monday.
Harry Markopolos, a fraud examiner who tried to warn regulators that Madoff’s business was a fraud, and the SEC’s Director of Enforcement Robert Khuzami are expected to testify at the Senate Banking committee’s hearing on Thursday.

The hearing comes after last week’s damning report from the SEC’s inspector general who accused agency staff of missing numerous opportunities to uncover Madoff’s scam.

SEC Inspector General David Kotz and the agency’s acting director of compliance, inspections and examinations, John Walsh, are also expected to testify, the Senate Banking Committee said on Monday.

Sources: Reuters




Comments are closed.