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Ritholtz
I met Harry several times — a quiet, studious guy. Very serious. The sort of guy you want doing your taxes.
That he discovered the Madoff fraud isn’t very surprising; That he could not get anyone to listen is amazing.
How long did it take to uncover and expose a $40 billion crook? Ten years.
Even though Markopolos [...]
From the May/June issue of Fraud Magazine, the magazine for the Association of Certified Fraud Examiners, comes this interview with Harry Markopolos, who spotted in 1999 that Madoff was running a Ponzi scheme.
What events led you to investigate Madoff’s business?
In late 1999, I was a portfolio manager for a multibillion-dollar equity derivatives asset management firm [...]
CBS News interview excerpts
“I’ve taken all the calculus courses, from integral calculus through differential calculus, as well as linear algebra. And statistics, both normal and non-normal,” Markopolos said.
Asked how long it took him to figure out something was wrong, Markopolos said, “It took me five minutes to know that it was a fraud. It took [...]
