More Dirty Money – Did Madoff Pay Off SEC Lawyers?

Former SEC General Counsel David M. Becker, Accused of profiting from Madoff Scheme to Look the Other Way

Yet another story of dirty money making it’s way into the hands of the folks who are supposed to protect our system. Not sure how you prosecute these guys when you have bought judges on the Supreme Court who also are taking bribes. Seems to me that level of corruption brings down the whole system.

Irving Picard hits Securities and Exchange Commission’s top lawyer with Bernie Madoff lawsuit

The family of the top lawyer at the Securities and Exchange Commission invested with Bernie Madoff and earned more than $1.5 million in ill-gained profits, according to trustee Irving Picard, who has named the lawyer, David M. Becker, as a defendant in a clawback lawsuit, a Daily News investigation has found.

The apparent conflict of interest raises significant questions about the watchdog commission’s failure to stop Madoff and his $65 billion Ponzi scheme, despite repeated red flags and investigations into his operations.

Becker, 63, who is leaving his post as general counsel and senior policy director of the SEC in five days to return to the private sector, has never publicly disclosed his family’s ties to Madoff. He and his two brothers, who are also defendants in the suit, were named executors of their mother’s estate, which included a Madoff account, after her death in 2004. They liquidated the account in 2005, withdrawing $2,042,845, and are being sued as co-executors of the estate and individually.

David Becker was the SEC’s general counsel from 2000-2002 and again from 2009 until this month. He joined the agency in 1998 as deputy general counsel.

A spokesman for the SEC, John Nester, confirmed Tuesday that Becker received the complaint several days ago.

“He had no involvement with his parents’ financial affairs, and no recollection of his parents’ account with Madoff prior to his mother’s death and subsequent liquidation of the account,” Nester said on behalf of Becker.

 

 

 

About these ads

3 Responses

  1. O/T
    Wisconsin Governor takes 20-minute call from prankster posing as Koch brother

    http://www.huffingtonpost.com/2011/02/23/scott-walker-buffalo-beast-phone-prank_n_827058.html

    ROTFLMAO!!!

  2. Indiana Deputy AG: “Use Live Ammunition” Against WI Protesters

    A conservative deputy AG let his emotions get out of hand. It wasn’t the first time.

    On Saturday night, when Mother Jones staffers tweeted a report that riot police might soon sweep demonstrators out of the Wisconsin capitol building—something that didn’t end up happening—one Twitter user sent out a chilling public response: “Use live ammunition.”

    From my own Twitter account, I confronted the user, JCCentCom. He tweeted back that the demonstrators were “political enemies” and “thugs” who were “physically threatening legally elected officials.” In response to such behavior, he said, “You’re damned right I advocate deadly force.” He later called me a “typical leftist,” adding, “liberals hate police.”

    Only later did we realize that JCCentCom was a deputy attorney general for the state of Indiana.

    http://motherjones.com/politics/2011/02/indiana-official-jeff-cox-live-ammunition-against-wisconsin-protesters#

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Follow

Get every new post delivered to your Inbox.

Join 133 other followers

%d bloggers like this: