Harry Markopolos’ Book: “No One Would Listen”
– From “Front and Center”, by C. Austin Burrell –
This week, Certified Fraud Examiner Harry Markopolos announced the release of his new book, “No One Would Listen”, about the complete stonewall he hit with US Government Regulators including the SEC and FINRA. He told his story in his typical low key and very professional manner, making his message all the more devastating.
I am sure that SEC, FINRA and other officials to whom he reported his findings on the scope of the Madoff fraud felt footfalls on their graves.
Starting with CNBC, and then going to Matt Lauer, CNN and FOX News, he recounted his story of his discovery of the Madoff fraud, which had been ongoing for many years, when he examined the claimed performance of Madoff’s split strike price conversion strategy, and his quick realization that he claimed performance that would have simply been impossible to produce. He recited the sequence of events that led him to conclude within 30 minutes that Madoff was a fraud. It is where it went from there that no one except people who had faced similar risks could imagine. [entire post]