Harry Markopolos first blew the whistle on Bernard Madoff 9 years ago and no one listened. The story he tells is compelling. A securities fraud investigator he was asked to look into the Bernie Madoff Invesment Fund:
He said he contacted the SEC in 2000 after a four-hour review of Madoff’s investment strategy showed the promised return of more than 10% was impossible.
Over the next nine years, his team of investigators raised 29 red flags about Madoff to SEC officials in Boston, New York and Washington – all for naught.
Watch this video, he scorches the SEC for their incompetence This is fantastic video.
You can see the full 4 hour and 38 minute testimony here.