Current Year
An Insider's View of the Madoff Scandal
Featuring Frank R. Casey President, Fortune-USA
Tuesday, September 29 2009
Noon-1:30, Pfister Hotel
In 2000 Frank Casey, Harry Markopolos and Neil Chelo of Rampart Investments discovered the massive Ponzi scheme masterminded by former NASDAQ chairman Bernard Madoff. For a period of nine years, Markopolos dogged the U.S. Securities and Exchange commission with detailed information about the fraud. Yet the SEC took no action until the scheme collapsed in late 2008 and Madoff pleaded guilty to defrauding investors worldwide of over $50 billion. He was sentenced in June to a maximum of 150 years.
Mr. Casey will share 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 will examine why due diligence by regulators and hedge funds failed, suggest what needs to be done to prevent the situation from repeating itself, and discuss lessons we can all learn from the Madoff scandal.
Frank Casey is currently the President of Fortune-USA, a leading, London-based alternative investment advisory firm offering customized portfolio management services for a range of private wealth management groups, family offices, and institutions. He has acquired broad knowledge of capital markets over his long career, which has included key positions at Merrill Lynch, Prudential Securities, Rampart Investments, Benchmark Plus, and his own investment management firms.
