The whistleblower credited with repeatedly tipping off the Securities and Exchange Commission over the last nine years about the alleged multi-billion dollar Ponzi scheme involving Bernard Madoff publicly blasted the agency as “over-lawyered” and captive to the industry it regulates.
Harry Markopolos, the whistleblower who provided the SEC with findings of his own nine-year investigation into the alleged Madoff Ponzi scheme, told lawmakers that his team provided enough red flags and mathematical proof to the SEC back in 2000 “where they should’ve been able to shut him down right then and there at under $7 billion dollars.”
