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Latest Genevievette Walker-Lightfoot Stories

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2009-09-30 12:34:25

U.S. Securities and Exchange Commission investigator H. David Kotz has recommended 58 steps to tighten enforcement in the wake of the Bernard Madoff scandal. For thousands of investors, Ponzi scheme operator Bernard Madoff represents a $65 billion crime, not a scandal. At the SEC, however, Madoff, now serving a 150-year prison sentence, represents both after Kotz's internal investigation revealed six substantial warnings given SEC officials that resulted in missed opportunities to stop the...

2009-09-02 16:22:28

The U.S. Securities and Exchange Commission failed to follow up on significant warnings concerning Ponzi scheme operator Bernard Madoff, a case audit said. SEC Inspector General David Kotz's report, released Wednesday, said there were no personal tie-ins between Madoff and SEC personal that prompted the SEC to fail in following up on numerous warnings, some of which were available 16 years prior to Madoff's arrest and confession last December. The (Office of Inspector General) did not find...

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2009-07-09 09:04:22

A senior U.S. Securities and Exchange Commission official who oversaw key investigations of Bernard L. Madoff's activities is resigning, the agency said. Lori Richards is stepping down after 14 years as director of the Office of Compliance Inspections and Examinations, The Washington Post reported. The agency had come under scrutiny for its role in the SEC's monitoring of Madoff's business without detecting his multibillion-dollar fraud. Her office reviewed his firm at least three times, in...

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2009-07-02 07:45:00

The U.S. Securities and Exchange Commission failed to uncover Bernard Madoff's Ponzi scheme on five occasions in 20 years, a source close to the agency said. Madoff was sentenced Monday to 150 years in prison after pleading guilty to 11 counts of fraud. The SEC is investigating how it may have missed detecting the massive fraud that may have lost as much as $50 billion, The Washington Post reported Thursday. On one occasion in 2004, SEC investigator Genevievette Walker-Lightfoot in the Office...

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2008-12-17 10:54:51

U.S. Securities and Exchange Commission Chairman Christopher Cox has ordered an investigation to see why the agency missed signs of a massive fraud case. Cox said the SEC dismissed credible and specific allegations repeatedly brought to the attention of SEC staff, concerning the case of New York trader Bernard Madoff, who is accused of defrauding investors of $50 billion in a Ponzi scheme, The Washington Post reported. Our initial findings have been deeply troubling, Cox said. Sen....


Word of the Day
call-note
  • The call or cry of a bird or other animal to its mate or its young.
'Call-note' is newer than 'bird-call,' which originally referred to 'an instrument for imitating the note of birds' but now also refers to 'the song or cry of a bird.'
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