In news that will undoubtedly cause victims of Bernard Madoff’s massive $150 billion Ponzi scheme to become outraged, an new report by the Securities and Exchange Commission shows that the SEC received six tips in the sixteen years leading up to Madoff’s confession concerning his scam. However, the SEC’s report alleges that the agency mishandled the inquiries and ignored several key factors in exposing Madoff’s guilt.
 
The SEC recently released a 450-page report that revealed the SEC’s knowledge of Madoff’s “lies and misrepresentations” dating all the way back to 1992. However, the report also revealed that the SEC failed in its …read more

The Securities and Exchange Commission warned investors Monday about con-artists using the names of actual SEC employees to trick unwitting victims.
I don’t know about you, but I don’t know the names of any SEC employees, and if someone called me claiming to be from the SEC, I’d probably give them about as much credibility as a Nigerian prince.
But apparently investors in the U.S. and abroad have fallen prey to the tricksters, to the point of providing access to brokerage accounts and sent payment to the imposters.
It’s not just individuals who are at risk. Investment advisers have been contacted by fake …read more