Shana Madoff, Niece Of Bernard, Married SEC Official Eric Swanson

A top Securities and Exchange Commission compliance official who worked for the SEC when it found no problems at Bernard Madoff's firm in 2005, later began to date and married Madoff's niece, who was a compliance lawyer for the company.

A spokesman for Eric Swanson, who has since left the SEC, said Swanson "did not participate in any inquiry of Bernard Madoff Securities or its affiliates while involved in a relationship" with Shana Madoff.

Read the whole story here.

Comments

[Name Not In Use]

Stop knocking the SEC!
They bagged Martha Stewart didn't they?
They still trumpet that fact on their web pages.
http://www.sec.gov/news/press/2003-69.htm
"Stewart avoided losses of $45,673"
$45,673 !!!!!!
$45,673 !!!!!!
$45,673 !!!!!!

[Bruupo]

Does this mean we've gone from "voluntary regulation" to "consensual regulation"?

[FairTalk]

Hey, guys, would you trust these guys to raise your children?

No? Then why trust them with your money?

[rjlwis]

I have been against the death penalty all of my life, but when people like this basically ruin the life of others who trusted them to be honest, well I may have to reconsider.

[renatam]

And to think Clinton/Bush and Rubin/Greenspan/Cox wanted to put our Social Security into Wall Street's Ponzi schemes - post completely DEREGULATING these firms. Chelsea is at a Hedge Fund right out of college. Wall Street funded Clinton Inc. and Hillary's NYS Campaign in 2000. George Walker Bush IV and Jeb Bush (planning yet another run for Public Office!) - were on Lehman's Exec Committee when the firm went under earlier this year....

[JBVT]

I lost much of mine invested with Oppenheimer, Merril Lynch and Amex.

All geniuses...

[GatoPreto]

Any news on the other ponzi scheme involving Rubin and Citi for twice the amount Bernie 'evaporated'?

[RabidRightRebel]

The only solution to this kind of white collar crime is to dramatically increase the penaties.

In the old west because there was no way to watch all the cattle, cattle rustler were hanged.

In the new frontier of financial markets there is no way to watch all the transactions, so anyone that steals or defraud more than a million should be sent to prison for life. This would certainly reduce the illegal active more than increased supevision.

[Buddhabman]

Talking about digging yourself a hole. Did he ever consider giving up the lie when he was just 50 million in the hole? Mr. Madoff, maybe it's time to change the family name and switch to Catholicism. Now he is going around and trying to secure a bond? He best prepare his back for that metal rack. What a greedy jerk.