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
At the firm, he employed his brother Peter Madoff as senior managing director and chief compliance officer, Peter's daughter Shana Madoff as the firm's rules and compliance officer and attorney, and his now deceased sons Mark and Andrew. Peter was sentenced to 10 years in prison and Mark died by suicide by hanging exactly two years after his father's arrest. Andrew died of lymphoma on September 3, 2014