June 18, 2009
Madoff Sits Down with SEC Top Cop
Meeting Was At Madoff's Jail Cell; SEC Investigating How It Missed Schemes
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Play CBS Video Video Madoff Victims Struggling The judge deciding Madoff's sentence was flooded with the emails and letters of devastating losses and heart wrenching stories of people who claim they were "economically raped". Jeff Glor reports.
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Video Ruth Madoff Outside Jail "Only On The Web": Ruth Madoff had nothing to add when asked about how her husband is doing. Also she had no comment for the investors who were victims of her husband's Ponzi scheme.
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(U.S. Marshals Service)
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Photo Essay Bernard Madoff Disgraced financier charged with perpetrating massive fraud.
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Photo Essay Madoff's Victims A look at some of Bernard Madoff's famous clients.
Kotz would not confirm the meeting to CBS or what was discussed declining to comment on an ongoing investigation.
Congressman Paul Kanjorski (D-PA) recently sent a letter to Kotz asking when his investigation of the SEC's mishandling of Madoff would be made available.
Kotz says he will deliver three reports on how the SEC failed to uncover Madoff’s Ponzi scheme after multiple investigations.
The first report will be comprehensive examining all of the failed SEC investigations into Madoff since 1992 - this report will be released no later than August 31, 2009 according to Kotz's office. Two additional reports will make recommendations as to how the agency can detect these kinds of scams in the future.
Kotz’s investigation has been thorough, leading his staff to examine millions of emails and interview more than a hundred witnesses as they attempt to piece together how the agency could have missed the colossal fraud.
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