SEC ignored Red Flags

The SEC is being questioned for its failure to take the warnings of Harry Markopolos seriously. In this hearing he raises questions on why the SEC failed to respond to the concerns raised by him and the other three members of his team. In this video clip, Markopolos allegations raise serious questions of the credibility of the SEC.

Questions and Answers

Related:

  • Red Flags Ignoredon Madoff’s Ponzi Scheme
  • Can you all post useful related articles, I will add them here. Please listen and post your responses.

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    4 Responses

    1. The guy prepared a 20 page document which exposed the fraud years ago, it makes for interesting reading.

      http://online.wsj.com/documents/Madoff_SECdocs_20081217.pdf

    2. Looks like Sirach, Baracuda, The Doctor, Harbor Shark and AML etc….were right.

      It is finally coming home to me that David, Tracey and Wayne Smith and the rest of their family are all a set of damm thieves,

      I was one of those people who believed in David.I even gave him the benefit of doubt by rationalizing his need to extend the pay back time period to March.

      Right now, my head is spinning- I will really have to take what was said on the breakfast club and the other radio programs seriously.

      Does anyone know if plans are in the works for a class action lawsuit against David and/or OLINT.

      I do not have much money left in savings and I certainly can’t afford a legal team like some OLINT members but I would be willing to pitch in with a group and for us to present our facts to a lawyer.

      I am truely disappointed in David. As for his wife- she is no better. They are all a set of thieves. I noted one thing- they found the US $1 million dollars to post bail fast,but for 19 months they have not paid us a red cent!! So much for the audit which was preventing any disbursement of funds!!!!

      Anyone willing to join me /have me join their efforts let me know!!!

      Sincerely,
      Angry/ Disappointed Investor

    3. Theyr’e all crooked all of them.

    4. I too must be honest and say I did not believe Belcher and the Doctor when they were on the radio program.
      Mi even cuss those two when I was at Lime Key wid the crew!!!
      I know David from school days and never could believe him to be a thief.

      Rattid, I was wrong – I just saw some more evidence that now convinces me David, Tracey and Wayne were really nothing more than a damm set of thieves.

      Personally, I am ashamed of David and I have a use this forum to apologize to Belcher and the Doctor for ridiculing them. It turns out, I was the damm fool to have been standing beside David all this time.

      Tracey, you are the shocker…. Everytime I saw you I would tell Dave how he is a lucky man..

      Buoy mi haffi go to mi bed. Later……….

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