Just when the Securities and Exchange Commission might hope to shed some of the shame of missing the biggest investment scam in U.S. history comes news that its own top lawyer profited from the scheme.
He didn’t do it knowingly because, embarrassingly enough, the SEC didn’t know it was a scam. Still, David M. Becker, the agency’s former chief counsel, wound up profiting from Bernard Madoff’s investment pyramid. That’s according to Becker’s own explanation.
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