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Madoff Whistleblower Testifies


Markopolos Says He Will Turn In A Mini-Madoff from AlleyInsider on Vimeo.

Madoff whistleblower Harry Markopolos testified to a House Financial Services Committee panel today about the alleged fraud he says he uncovered. Markopolos told the committee he tried for nine years to get the Securities and Exchange Commission to investigate Madoff. After calling the SEC "3,500 chickens" Markopolos took one parting shot:

"If you flew the entire S.E.C. staff to Fenway Park, they wouldn't be able to find first base."

Markopolos also said he plans on turning in a $1 billion "mini-Madoff" to the SEC tomorrow, and this time he hopes they'll listen.