Posted on 07/01/2009 9:33:20 PM PDT by smokingfrog
An investigator at the Securities and Exchange Commission warned superiors as far back as 2004 about irregularities at Bernard L. Madoff's financial management firm, but she was told to focus on an unrelated matter, according to agency documents and sources familiar with the investigation.
Genevievette Walker-Lightfoot, a lawyer in the SEC's Office of Compliance Inspections and Examinations, sent e-mails to a supervisor, saying information provided by Madoff during her review didn't add up and suggesting a set of questions to ask his firm, documents show. Several of these questions directly challenged Madoff activities that much later turned out to be elements of his massive fraud.
But with the agency under pressure to look for wrongdoing in the mutual fund industry, she wasn't able to continue pursuing Madoff, according to documents and two people familiar with the investigation, and her team soon concluded its work on the probe.
Walker-Lightfoot's supervisors on the case were Mark Donohue, then a branch chief in her department, and his boss, Eric Swanson, an assistant director of the department, said two people familiar with the investigation. Swanson later married Madoff's niece, and their relationship is now under review by the agency's inspector general, who is examining the SEC's handling of the Madoff case.
(Excerpt) Read more at washingtonpost.com ...
Oh, so now that Madoff is in the can,
Our government can now come out of their stupor, and shout I told you so!!!
Idiots, all!
Our government has such a fine record of taking care of things. Makes one all warm and cozy to see it becoming ever more involved in the business sector.
MM
Somebodies enabled madoff to last as long as he did. He went quietly to jail to protect those somebodies.
MIchael Savage named Democrat lawmakers, by name, today.
2004, this has to be President Bushs fault...
Just 3 little words. Follow the money.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.