Downtown Luncheon - Uncovering a Fraud: The 10 Year Hunt & Lessons Learned from the Madoff Fraud

• CFA Society of Philadelphia

Speaker:Frank Casey

Topic: Uncovering a Fraud: The 10 Year Hunt & Lessons Learned from the Madoff Fraud

Program:

In early 1998, Frank Casey joined Rampart Investments where he met portfolio managers Harry Markopolos and Neil Chelo. The three formed the core team that began blowing the whistle to the SEC on Bernard Madoff’s Ponzi scheme in May of 2000. This session will provide insight into their discovery of the Madoff fraud and will share the story of their nine-year attempt to stop the growth of this financial cancer. We will draw comparisons between proper and insufficient due diligence performed by the same investor and will also explore the ongoing battle with the SEC’s intransigence in using competent outside advisors to uncover potential frauds.