100% the SEC knew that Bernie Madoff was a total complete fraud .
Of course. Because the President of the SEC was married to Bernies Daughter
He literally wasn't even sending Trades to wall street exchanges. Literally No Trading for Bernies Ponzi Scheme the last 25 years of his Fraud
Harry Markopolous blew the whistle and the SEC refused to listen and refused to investigate.
Harry ( forensic auditing accountant) tried to blow the whistle 5 times ! And nobody would Listen.
He wrote a book called " Nobody would Listen"
And they still wouldn't Investigate Bernie Madoff
He was the secret within wall street , the elephant in the room
He offered the biggest commissions for selling of his products world wide to super wealthy, so everyone pushed his products and they knew the returns were better than the stock market. With no risk! They got repeat business and more commissions
So everyone was happy
And
I personally know a few employees. They all insist they thought it was 100% legit operation , business. Until the day the fbi agents pulled the employees into a room and told them its over.
The employees who worked their whole careers since teenagers had no idea.
What I think. ( that's hard to believe) but also.. bernie took the Fall. But I think his Sons were in on it with him. And wife too Maybe. I think the family was corrupt and the employees did a job.