Turns out the SEC did hear about it--more than six times. But when whistleblowers sounded off, the agency turned a deaf ear.
A 2009 report released by the SEC Inspector General reveals that whistleblowers filed complaints involving Madoff as early as 1992. Over the next 16 years before Madoff confessed in 2008, the SEC received six "substantive complaints that raised significant red flags." But examiners never conducted a "thorough investigation" of Madoff's operations and they rejected additional evidence from whistleblowers like hedge-fund manager Harry Markopolous.
A 2009 report released by the SEC Inspector General reveals that whistleblowers filed complaints involving Madoff as early as 1992. Over the next 16 years before Madoff confessed in 2008, the SEC received six "substantive complaints that raised significant red flags." But examiners never conducted a "thorough investigation" of Madoff's operations and they rejected additional evidence from whistleblowers like hedge-fund manager Harry Markopolous.
Markopolous is just one of a number of whistleblowers who in recent years has tried to alert the SEC of potential wrongdoing, only to be ignored or misunderstood.
And the number may be dwindling. Besides book-deals and obscure Person of the Year awards, tipsters have little incentive to come forward. The SEC's whistleblower "bounty" program hasn't offered much additional incentive. Since its creation in 1989, the little known program has made reward payments to only five claimants totaling $159,537.
A new report by the SEC Inspector General recommends that its whistleblower program be overhauled. In the meantime, wet your whistle on our list of the SEC's Biggest Whistleblower Blunders:"
Source and Full Article
For More on the Peter Sivere Whistleblower Story
http://www.PeterSivere.com/
I have been talking to Peter Sivere for years and Thousands like him who tell the Department of Justice, the FBI, local cops and judges, attorneys, the SEC, the USPTO and more .. they Expose the truth with tons of proof and they are NOT heard, so they turn to me, Investigative Blogger Crystal L. Cox because I get their story and documents in top placement in the search engines and for FREE.
More on the iViewit Story
http://www.DeniedPatent.com/
The SEC has known for over a decade and though shareholders of Intel, Warner Bros., Sony, AOL, Time Warner, and tons more will lose billions and they KNOW, the SEC hides corruption and protects Elite Law Firms such as Foley & Lardner, Greenberg Traurig and Proskauer Rose. And the SEC ignores over a thousand documents of proof, depositions perjured, billing, tax records and tons of proof. One day Shareholders involved in the iViewit Scandal will lost Billions and Ernst and Young and other auditors will have proved to have known the whole time and did NOT protect shareholders, investors deliberately, to favor protected Law Firms, Tech and Media Companies.
Warner Bros. Jeffrey Bewkes and Former General Counsel Curtis Lu ( now General Counsel for Lightsquared), will deny they knew and that will be a flat out lie as the iViewit Story has been online for over a decade and on my sites for over 3 years. Curtis Lu and Jeffrey Bewkes know, and have fore a long time, there is audio of a conversation as recent as a year ago with Curtis Lu and one of the iViewit Inventors Eliot Bernstein. And Jeffrey Bewkes has ignored this issue for years even though Warner Bros. Time Warner had signed agreements and non-compete agreements with the iViewit Inventors.
Shareholders need to demand that the iViewit scandal be dealt with RIGHT NOW. As every year costs Millions more per company. Read the Documents, dig deep the SEC Knows and they are keeping it from you, the shareholders and investors to protect those involved.
It is time to demand that the Department of Justice, SEC, FBI, and more STOP protecting Elite Law Firms, Big Tech Companies and start protecting the PUBLIC that pays their wages and to whom they should be answering to.
iViewit SEC Complaint
http://iviewit.tv/CompanyDocs/20100206%20FINAL%20SEC%20FBI%20and%20more%20COMPLAINT%20Against%20Warner%20Bros%20Time%20Warner%20AOL176238nscolorlow.pdf
More on the iViewit Stolen Technology
http://www.crystalcox.com/2011/12/eliot-bernstein-iviewit-testimony-new.html
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