Madoff and the SEC

Have you wondered why the SEC didn't take action against Bernie Maldoff despite warnings from Harry Markopulous, an independent  financial fraud investigator and past president of the Boston Security Analyst Society who wrote the SEC to say that Madoff was running the world's largest hedge fund back in 2000?

Arnaud de Borchgrave reveals a family connection I've not seen reported anywhere else in Ignorance is not bliss.

Another is the interesting relationship between Mr. Madoff's niece Shana, a rules-compliance officer at her uncle's business, and her now husband, Eric Swanson, an attorney and former SEC compliance officer. Mr. Swanson was also tasked with reviewing Madoff's business in 1999 and again in 2004. He married Shana in 2006. A co-founder and former head of the Nasdaq stock exchange, Mr. Madoff was widely regarded as beyond reproach. He also bragged about his ties to the SEC.