Madoff Whistleblower: No One Would Listen !

BOSTON --
The whistleblower in the Bernie Madoff Ponzi scheme has just released his first book.

"That he got to $65 billion, it's hard for me to swallow. It's hard for me and my team to deal with, it really is," Harry Markopolos said.

Markopolos and his team spent 10 years tracking Bernie Madoff around the world. It's chronicled in his book, "No One Would Listen."

"For several years, I'd been living a under a death sentence, terrified my pursuit of Madoff would put my family and me in jeopardy," Markopolos wrote in his book.

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The book details secrecy with investors and brokers on Wall Street.

"All of that secrecy, I found, absolutely astonishing. There were so many people involved. They didn't want to ask questions, and the reason they didn't was because they were afraid of the answers they were going to receive," he said.

He said he went to the SEC five times, but it fell on deaf ears.

"The SEC, they're way over-lawyered, and they just don't have the finance people there," he said.

The SEC has made many changes post-Madoff., and even Markopolos agrees they're making progress.

"They're making rapid changes. They're not changing at the speed of government; they're going at a much faster pace. This case rocked the SEC's world. And I'm proud and thankful that they are making changes. At least some good has come out of this tragedy," he said. "I put a lot of good lessons in this book, not only for us adults, but for the next generation. A lot of good things to help prevent this from every happening again." Copyright 2010 by TheBostonChannel.com. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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[HollywoodSheen]

"it was either him or me" lmao this guy is a boss

[thislife2010]

By Hodges #5 During the period of June 1, 2004 through October 28, 2005 a total of 2.25 Trillion phantom shares of CMKM Diamonds Inc, was sold into the public market through legitimate brokers, illegitimate brokers and dealers, market makers, hedge funds, ex-clearing transactions and private transactions. The sales of the majority of such shares were at all times known to the Securities and Exchange Commission, including Defendants herein.

[thislife2010]

Attorneys for Plaintiffs ( representing cmkx shareholders): Hodges and associates:

A. CLIFTON HODGES, State Bar No. 046803

HODGES AND ASSOCIATES

4 East Holly Street, Suite 202

Pasadena, California 91103

Telephone: (626) 564-9797 Facsimile: (626) 564-9111

[Lazerhead71]

Madoff said he started his Ponzi scheme in 1991, he operated under the radar for 9 years until Markolopos went directly to the SEC telling them something was wrong. The SEC failed to make a case and Madoff essentially turned himself in 9 years later. What a complete joke our financial regulation is. If the largest Ponzi scheme in history went completely undetected for this long, how many smaller ones are going on.