Frank Casey, along with his colleagues Harry Markopolos and Neil Chelo, spent nearly a decade trying to get the Securities and Exchange Commission (SEC) to take a closer look at the business dealings of Bernard Madoff, a financier with the reputation of Midas among his investors.
Their warnings, we now know, went unheeded. In Dec. 2008, Madoff turned himself in to authorities and the world learned what Casey and his colleagues had long suspected: the so-called financial wizard was a sham. Indeed, he was the perpetrator of the largest Ponzi scheme in history, having defrauded thousands of investors of tens of billions of dollars over nearly two decades. In 2009, he was sentenced to 150 years in prison for his crimes.
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