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The Man Who Knew About Madoff Before Anyone Else
Harry Markopolos repeatedly told the Securities and Exchange Commission that Bernie Madoff's investment fund was a fraud. He was ignored, and investors lost billions of dollars. It didn't take for Markopolos to figure out that Madoff was a fraud, he says in the following video. It took him five minutes to figure out he was a fraud and four hours to mathematically prove it. Markopolos sent five separate reports to the SEC starting in 2000. All of the reports were ignored. Steve Kroft from CBS's 60 Minutes reports.
Watch CBS Videos OnlineHarry Markopolos repeatedly told the Securities and Exchange Commission that Bernie Madoff's investment fund was a fraud.
Greg MacSweeney is editorial director of InformationWeek Financial Services, whose brands include Wall Street & Technology, Bank Systems & Technology, Advanced Trading, and Insurance & Technology. View Full Bio