For almost ten years Harry Markopolos tried, and failed, to alert regulators and investors of Bernie Madoff’s $65 billion dollar Ponzi scheme.
In his new book “No One Would Listen”, Markopolos writes of how he and a group of colleagues spent years gathering information about Madoff and sending it to the Securities and Exchange Commission. Initially they hoped it would level the playing field by eliminating a successful rival they believed was engaged in fraud, later it became a mission to bring down a man they believed posed a risk to the entire financial system.
For Markopolos, a former hedge fund manager and forensic accountant, trying to bring down a man he considered one of the most powerful on Wall Street was one fraught with risks, for his career and family.
In an extended interview Markopolos speaks about his book, his investigation, his frustration with the regulators and how he feared for his own life.
Markopolos said he was living under a “death sentence” for ten years. Believing Madoff’s client list included drug cartels and organized crime, Markopolos went to extremes to protect himself and his family, even going so far as to devise a plan to kill Madoff.
noting both the yin and yang of futurity, watching cover ups as they happen, fighting back, and wooking pa nub in all de wong places. that's what i do.
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[the Other Outpost]