S.E.C. Inspector General David Kotz released a report stating that the agency had missed numerous opportunities to bust Bernie Madoff and his 16-year Ponzi scheme. Madoff’s scam cost investors billions of dollars, shuffling money away from retirement funds, charitable donations, and trusts. Madoff is currently serving a 150-year sentence for his crimes, but what can the S.E.C. do to redeem themselves? We talk to David Scheer, S.E.C. reporter for Bloomberg News.
The World is an independent newsroom. We’re not funded by billionaires; instead, we rely on readers and listeners like you. As a listener, you’re a crucial part of our team and our global community. Your support is vital to running our nonprofit newsroom, and we can’t do this work without you. Will you support The World with a gift today? Donations made between now and Dec. 31 will be matched 1:1. Thanks for investing in our work!