GAO Interim SIPC Report Madoff Liquidation

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  • 8/2/2019 GAO Interim SIPC Report Madoff Liquidation

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    PG@W_IQIGPIB\GPQH_S_HQG@QIHB@H_SH_KQIHB

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    Wbiqga Pqkqgp Mh|grbngbq K``hwbqkoidiqy Hlli`g

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    *;) ah`wngbq iqp srh`gawrgp lhriagbqilyibm `kbaiakqgp lhr qrwpqgg hrqrwpqggp `hwbpgd$ kba ib ph ahibm$ qhkppgpp }jgqjgr kaaiqihbkd hwqrgk`jgllhrqp pjhwda og ib`hrshrkqga$ kba*?) ah`wngbq k srh`gpp kba `riqgrik lhrksshibqngbq hl k qrwpqgg kba qrwpqggp`hwbpgd" PG@ kba PIS@ `hb`wrrga }iqjhwr rg`hnngbakqihbp"

    ]jkq MKH Lhwba

    Qjg Pg`wriqigp Ib|gpqhr Srhqg`qihb @hrshrkqihb *PIS@) mgbgrkddy lhddh}ga iqp skpqsrk`qi`gp ib pgdg`qibm qjg qrwpqgg lhr qjg Nkahll di{wiakqihb" PIS@ nkibqkibp k lidghl qrwpqgg `kbaiakqgp lrhn k`rhpp qjg `hwbqry$ owq mi|gb qjg kbqi`iskqga`hnsdgziqigp hl qjg `kpg$ hlli`ikdp pkia qjg ligda hl shqgbqikd {wkdiliga qrwpqggp }kpdiniqga" PIS@ jkp phdg aip`rgqihb qh ksshibq qrwpqggp kba$ }kbqibm qh k`q {wi`fdy$PIS@ pgbihr nkbkmgngbq `hbpiagrga lhwr qrwpqgg `kbaiakqgp" Klqgr qjrgg hl qjglhwr `kbaiakqgp }grg gdinibkqga lhr rgkphbp ib`dwaibm jk|ibm k `hbldi`q hl ibqgrgpqhr hbmhibm }hrf hb k dkrmg libkb`ikd lirn lkidwrg$ PIS@ pgdg`qga Ir|ibm J" Si`kra$}jh jkp `hbpiagrkodg pg`wriqigp kba qrwpqgg gzsgrigb`g" Jh}g|gr$ PIS@ jkp bhq

    ah`wngbqga k lhrnkd hwqrgk`j srh`gawrg lhr iagbqilyibm `kbaiakqgp lhr qrwpqggkba qrwpqggp `hwbpgd$ hr ah`wngbqga iqp srh`gawrgp kba `riqgrik lhr pgdg`qibmsgrphbp lhr skrqi`wdkr `kpgp$ kp ibqgrbkd `hbqrhd pqkbakrap rg`hnngba" Jk|ibmpw`j ah`wngbqga srh`gawrgp `hwda kddh} PIS@ qh ogqqgr kppgpp }jgqjgr iq jkpiagbqiliga kb hsqinkd shhd hl `kbaiakqgp$ kba qh gbjkb`g qjg qrkbpskrgb`y hl iqppgdg`qihb ag`ipihbp"

    K fgy mhkd hl orhfgr.agkdgr di{wiakqihbp ip qh srh|iag `wpqhngrp }iqj qjgpg`wriqigp hr `kpj qjgy jka ib qjgir k``hwbqp" Jh}g|gr$ og`kwpg qjg Qrwpqggagqgrnibga qjkq knhwbqp pjh}b hb Nkahll `wpqhngrp pqkqgngbqp rgldg`qgaygkrp hl li`qiqihwp ib|gpqngbqp kba srhliqp$ jg `jhpg qh agqgrnibg `wpqhngrp bgqg{wiqy wpibm qjg bgq ib|gpqngbq ngqjha *BIN)$ }ji`j |kdwgp `wpqhngr `dkinpokpga hb knhwbqp ib|gpqga$ dgpp knhwbqp }iqjark}b" PIS@ pgbihr nkbkmgngbqkba hlli`ikdp hl qjg Pg`wriqigp kba Gz`jkbmg @hnnippihb *PG@)}ji`jh|grpggp PIS@ibiqikddy kmrgga hb qjg kssrhsrikqgbgpp hl BIN" H|gr qjg `hwrpghl ?339$ jh}g|gr$ PG@ hlli`ikdp `hbqibwga qh `hbpiagr kdqgrbkqi|g kssrhk`jgp lhrrginowrpibm `wpqhngrp" Kdqjhwmj phng `wpqhngrp jk|g jkddgbmga qjgQrwpqggp wpg hl BIN$ q}h `hwrqp jk|g jgda qjkq qjg Qrwpqggp kssrhk`j ip`hbpipqgbq }iqj qjg dk} kba }iqj skpq `kpgp$ }iqj ohqj `hwrqp ibai`kqibm qjkq wpibmqjg |kdwgp pjh}b hb `wpqhngrp libkd pqkqgngbqp }hwda gllg`qi|gdy pkb`qihb qjgNkahll lrkwa kba srhaw`g kopwra rgpwdqp" Ib Bh|gnogr ?339$ PG@`hnnippihbgrp |hqga qh pwsshrq qjg wpg hl BIN$ owq }iqj kb kaewpqngbq lhribldkqihb$ ib kb kssrhk`j fbh}b kp qjg `hbpqkbq ahddkr ngqjha" Jh}g|gr$ klqgrkb PG@ hlli`ikdp `hbldi`q hl ibqgrgpq }kp nkag swodi` ib Lgorwkry ?3;;$ qjg PG@@jkirnkb airg`qga PG@ pqkll qh rg|ig} }jgqjgr qjg `hnnippihb pjhwda rg|hqg hbqjg `hbpqkbq ahddkr kssrhk`j" Qjg nkqqgr ip `wrrgbqdy sgbaibm"

    Kp hl H`qhogr ?3;;$ `hpqp hl qjg Nkahll di{wiakqihb rgk`jga nhrg qjkb !173niddihb$ kba qjg Qrwpqgg gpqinkqgp qjg qhqkd `hpqp }idd gz`gga !; oiddihb oy ?3;1"Dgmkd `hpqp$ }ji`j ib`dwag `hpqp lhr qjg Qrwpqgg kba qjg qrwpqggp `hwbpgd$ krgqjg dkrmgpq `kqgmhry" ]jidg qjg gpqinkqga qhqkd `hpq lhr qjg Nkahll di{wiakqihb ipahwodg qjg qhqkd lhr kdd `hnsdgqga PIS@ `kpgp qh akqg$ qjg Qrwpqgg$ PIS@$ kbaPG@ bhqg qjkq qjg `hpqp rgldg`q qjg wbsrg`gagbqga piug$ awrkqihb$ kba `hnsdgziqyhl qjg Nkahll lrkwa" PIS@ pgbihr nkbkmgngbq kdph pkia qjg di{wiakqihb `hpqp krgewpqiliga$ kp diqimkqihb qjg qrwpqgg jkp swrpwga jkp srhaw`ga !:"= oiddihb ibrg`h|grigp lhr `wpqhngrp qh akqg" Qjrhwmj |krihwp rgshrqp$ `hwrq lidibmp$ kba k}gopiqg$ qjg Qrwpqgg jkp aip`dhpga iblhrnkqihb kohwq qjg pqkqwp hl qjg di{wiakqihb"PIS@ pgbihr nkbkmgngbq$ PG@ hlli`ikdp$ kba qjg W"P" Okbfrwsq`y @hwrq jk|g`hb`dwaga qjkq qjg Qrwpqggp aip`dhpwrgp pwlli`igbqdy kaargpp qjg rg{wirgngbqp lhraip`dhpwrg wbagr qjg Okbfrwsq`y @hag kba qjg Pg`wriqigp Ib|gpqhr Srhqg`qihb K`q"

    \ig}MKH.;?.1;1" Lhr nhrg iblhrnkqihb$`hbqk`q K" Bi`hdg @dh}grp kq *?3?) 7;?.:

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    Skmg i MKH.;?.1;1 PIS@

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