SEC investigates itself, speaks with Madoff

18 June 2009 @ 08:21 pm EDT

Convicted fraudster Bernard Madoff, awaiting sentencing for a $65 billion Ponzi scheme, met with an investigator from the Securities and Exchange Commission inquiring about the agency’s failure to detect the fraud, a person familiar with the matter told Bloomberg.

Madoff met SEC Inspector General David Kotz, the person said, declining to be identified because the probe isn’t public, Bloomberg reported.

An agency spokesman declined to comment on the matter but said “everything” would be included in a filing to the court ahead of the sentencing, the report stated.

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