Madoff whistle-blower Harry Markopolos is so mad about the botched regulation of The Ponz he’s written a book about it.Huffington Post: In an explosive new book, Bernie Madoff whistleblower Harry Markopolos tells the inside story of how he uncovered the $65 billion fraud, claims that he exposed State Street’s alleged fraud of pension funds and admits that he considered the idea of killing Madoff if he was ever threatened by the Ponzi schemer.
The mild-mannered fraud investigator’s new book, “No One Would Listen”, is set for release next week, with a foreword by short-seller and Greenlight Capital president David Einhorn who calls Markopolos a “hero.”
Markopolos, of course, said in 2005 that Madoff was “running the world’s largest Ponzi Scheme” but his warnings went unheeded by the SEC and others.
Marcus Baram of HuffPost has a nice summary of Markopolos’ new book today. Some nuggets:
- The Madoff case is just the tip of the iceberg of his multiple probes of financial shenanigans
- The health care industry “makes Wall Street look honest”
- If he felt threatened, he was prepared to kill Madoff himself
- Markopolos claims he tried to give his Madoff file to then-New York Attorney General Eliot Spitzer; Spitzer says he didn’t get it
- Markopolos slams the media, expressing his incredulity at their lack of initiative and says reporters ignored the story he told them about
- He was devastated by the suicide of friend and french money manager Thierry de la Villehuchet, who remained heavily invested in Madoff despite Markopolos’ warnings
Read the full preview here.