Harry Markopolos

Harry Markopolos
Born (1956-10-22) October 22, 1956 (age 67)
Erie, Pennsylvania, U.S
Alma materLoyola College in Maryland (BA)
Boston College (MS)
Occupation(s)Financial fraud investigator, Retired securities executive, CFA, CFE
Known forWhistleblower in Bernie Madoff securities fraud scandal
SpouseFaith Markopolos
Children3

Harry M. Markopolos (born October 22, 1956) is an American former securities industry executive and a forensic accounting and financial fraud investigator.

From 1999 to 2008, Markopolos uncovered evidence that suggested that Bernie Madoff's wealth management business was a huge Ponzi scheme. In 2000, 2001, and 2005, Markopolos alerted the U.S. Securities and Exchange Commission (SEC) of his views, supplying supporting documents, but each time the SEC ignored him or gave his evidence only a cursory investigation.[1] Madoff was finally revealed to be a fraud in December 2008, when his sons contacted the Federal Bureau of Investigation. After admitting to operating the largest private Ponzi scheme in history, Madoff was sentenced in 2009 to 150 years in prison.[2][3]

In 2010, Markopolos's book on uncovering the Madoff fraud, No One Would Listen: A True Financial Thriller, was published.[4][5] Markopolos has criticized the SEC for failing to discover the Madoff fraud despite repeated tips, and for failing to investigate properly the larger companies it supervised.[6]

  1. ^ Tofel, Richard J. (March 8, 2010). "Shadowing a Swindler; Early on, he figured out what Bernard Madoff was up to". Wall Street Journal Online. Retrieved January 4, 2019.
  2. ^ Douglas, Craig M. (December 16, 2008). "Madoff had early skeptic in Boston gumshoe". Boston Business Journal. Retrieved December 22, 2008.
  3. ^ Wagner, Daniel; Pete Yost (December 21, 2008). "SEC has been slow to react to fraud claims". Associated Press. Retrieved December 22, 2008.[dead link]
  4. ^ Markopolos, Harry (2010). No One Would Listen: A True Financial Thriller. Hoboken, New Jersey: John Wiley & Sons. ISBN 978-0-470-55373-2.
  5. ^ Bandler, James (February 25, 2010). "Harry Markopolos: The man who hunted Madoff". Archive.fortune.com. Retrieved March 15, 2016.
  6. ^ Levin, Bess (April 13, 2010). "The Madoff Hunter". The New York Observer. Retrieved April 30, 2010.