The stunning fraud that Wall Street pillar Bernard Madoff is accused of has raised questions about whether federal regulators were lax in failing to scrutinize his operations and respond to alarms raised about them. SEC enforcement attorneys were in federal court on Friday to seek emergency relief for investors, including an asset freeze and the appointment of a receiver for Madoff's firm, in an alleged $50 billion fraud that could be the largest ever pinned on an individual.
Madoff Fraud Case Raises Questions About SEC Scrutiny
The Associated Press
December 15, 2008