SEC Inspection Notes from Madoff

SEC Inspection Notes

Below is a short article on how Madoff avoided detection for so long:

A newly-released transcript of a phone call between Bernard Madoff and a feeder hedge fund offers new details of how the arch-fraudster escaped detection for so long.

“You know, you don’t have to be too brilliant with these guys because you don’t have to be,” Madoff told the FFG employee, warning him that, “obviously, first of all, this call never took place.”

“You’re not supposed to have that knowledge and, you know, you wind up saying something which is either wrong, or, you know, it’s just not something you have to do.” source

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Tags: Madoff detection, SEC Inspections, What to expect in a SEC inspection, SEC investigations, past sec investigations, process of an SEC investigation, hedge fund, hedge funds

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