Madoff Was Probed By Regulators At Least 8 Times In Last 16 Years

Bernard L. Madoff Investment Securities LLC was examined at least eight times in 16 years by the Securities and Exchange Commission and other regulators, who often came armed with suspicions.

SEC officials followed up on emails from a New York hedge fund that described Bernard Madoff's business practices as "highly unusual." The Financial Industry Regulatory Authority, the industry-run watchdog for brokerage firms, reported in 2007 that parts of the firm appeared to have no customers.

Read the whole story here.

Comments

[GerryS]

Bernie "was probed at least eight times in 16 years."

well the frequency could be greater soon, at a prison near you---------

[Skeetshooter]

You call those probes? I'll show you a probe..

[chayefsky]

Hey Bernie. Get used to the probing----you're headed to prison where pasty, spoiled white guys are probed incessantly.

[Keith52]

He was probed, yes... but did they look at his books? Maybe he was enjoying the probe....

[Whatashame]

I noticed that all the crimes that are done on wall street are done by whites. How come?

[tomas0808]

Proof that the system is inherently flawed. S&L, Enron, Madoff, you know there are countless others that were able to make their payoffs on time

[hamchunk]

Its just too bad that Social Security wasn't privatized and totally invested into this fund. What a hoot that would have been!!

[Beachrunner]

The only thing Madoff should be charged with is running a Social Securtiy agency without a license.

[Americafirst2008]

Time to probe the charities too, some of these so called religious and ethnic charities seemed bogus.

[JDOK]

Amen!

[littlepuffycloud]

8 probes?! That's even more than Cartman got.

[philosopherkingtomas]

just because the meat has a FDA stamp on it doesnt mean it isnt ROTTEN !

[philosopherkingtomas]

the investors were GREEDY and lazy,,, buyer beware !

[ReasonIsMyReligion]

The last eight years?

Where there's smoke, there's arsonists.

[Horus]

8 probes in the last 16 years??? It's almost like Madoff and the regulators were married!

[gcallaghan]

If regulators probed bernie 8 times in 16 years, the upcoming nightly probes by his cellmates won't come as too great a shock to his system.