Yep,a top SEC lawyer courted and married the niece of Madoff. The lawyer no longer works for the SEC.A top SEC compliance lawyer married a niece ofMadoff and no one at the SEC raised an eyebrow. Asleep at the switch does not quite cover it. Dead at the switch is a better description.
Quote:
Since the story of Bernard Madoff"™s massive Ponzi scheme broke, a recurring theme has been shock over how Wall Street"™s top cop"”the Securities and Exchange Commission"”missed so many red flags. Knowing more about who did the SEC"™s investigations makes it all less surprising.
In 1999 and then again in 2004, Eric Swanson, an assistant director in the inspections division of the SEC, was part of the team that examined Madoff"™s brokerage firm. During those exams, the SEC team said it found almost nothing wrong, certainly not the fraud that the firm"™s chief executive, Bernard Madoff admitted to last Thursday evening, as he sat in the FBI"™s New York offices with his one wrist handcuffed to a chair and the other holding a telephone he used to contact his attorney, the famed white-collar lawyer Ira Lee Sorkin.
Swanson doesn"™t lead the SEC office in charge of such inspections; Lori Richards has that job. But he is noteworthy for another reason: Swanson married Madoff"™s niece, Shana, in 2007, and knew members of the Madoff family well. Shana was the Madoff firm"™s compliance counsel, one of the people in charge of making sure the firm played by the rules. The two had met at industry conferences.
SEC Lawyer In Bed With Madoff's Niece
