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Renaissance to SEC: Seeing Madoff's Fraud Wasn't Rocket Science

businessinsider.com · 484 words · saved by 1 readers

In another mind boggling finding from the SEC’s 477-page Madoff report,  it is revealed that the agency’s examiners, while conducting a routine examination of hedge fund Renaissance, reviewed internal emails that were questioning Madoff’s legitimacy and whether he was involved in illegal activity, but failed to act on it.

In another mind boggling finding from the SEC’s 477-page Madoff report, it is revealed that the agency’s examiners, while conducting a routine examination of hedge fund Renaissance, reviewed internal emails that were questioning Madoff’s legitimacy and whether he was involved in illegal activity, but failed to act on it. The emails go into intricate details to examine and try to understand Madoff’s doings, and raised a series of red flags, including Madoff’s fee structure, his stock predictions “too good to be true” and the steady, non-volatile returns. In a first email dated Nov.13, 2003,…

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