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The Madoff Fraud: An Insider Speaks
October 25, 2017 – The New Jersey Institute of Continuing Legal Education (NJCLE) scheduled a repeat of the special presentation and roundtable discussion for legal professionals that examined, from an insider’s perspective, the fraud perpetrated by Bernard Madoff. The guest speaker was Frank Casey, the covert investigatory member of the group that discovered Bernard Madoff’s fraud in early 1999.
Casey shared the inside story of how he and his colleagues exposed the Ponzi scheme and how their efforts to draw regulatory attention to the matter went unanswered. He examined why due diligence by regulators and hedge funds failed, suggest what needs to be done to prevent the situation from repeating itself, and discussed lessons we can all learn from the Madoff scandal.
The speaker was joined once again by members of the NJSBA in an interactive roundtable discussion, moderated by William A. Despo, Esq., Despo Law Group, with special speakers: Todd Galante, Esq., LeClairRyan, Melanie Ryan, Esq., Law office of Melanie Ryan and Hasan Ibrahim, Vice President & Regulatory Counsel, The Prudential Insurance Company of America will join with the discussion. The Panel discussed the regulatory repercussions to Madoff including the Whistleblowing provisions of Dodd Frank and SEC Office of Whistleblower, increased regulatory scrutiny of broker-dealers and registered investment advisers, and ethical issues that face a lawyer for a client’s wrongful activities.
Frank Casey is a co-Author of the New York Times bestselling book “No One Would Listen” and the documentary film “Chasing Madoff,” which recount events surrounding the team’s discovery of the Madoff fraud and efforts to bring Madoff’s crimes to prosecution.