The Times reports that for over a decade Markopolos feared the repercussions of his complaints and testimony.
Nobody listened when independent investigator Harry Markopolos of Whitman, Massachusetts warned the SEC about the Madoff Ponzi Scheme in 1999.
Markopolos waged a remarkable battle to uncover fraud at Madoff's operation, sounding the alarm back in 1999 and continuing with his warnings all through this decade. The government never acted, Madoff continued his ways, and people lost billions.Here is the detailed credible 2005 complaint. The fraud continued....
Markopolos reached his conclusion with the help of mathematicians like Dan diBartolomeo, whose analysis of the Madoff's methods in 1999 helped fuel Markopolos' suspicions....
In 2005, he submitted a report to the SEC saying it was "highly likely" that "Madoff Securities is the world's largest Ponzi scheme." In the report, he says he knew his research could ruin people's careers and asked the SEC be discreet about circulating the report and his name....more
By the way, Is Harry Markopolos Jewish?
No, we don't think that he is a Jew. Markopolos graduated from Catholic schools: Cathedral Preparatory School in 1974 ("providing a college preparatory, Catholic education for young men to strengthen the Catholic faith"), Loyola College in Maryland in 1981 and Boston College in 1997. [Edited and reposted.]