Man Who Helped Take Down Madoff Has Erie Ties - WICU12 HD WSEE Erie, PA News, Sports, Weather and Events

Man Who Helped Take Down Madoff Has Erie Ties

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Bernie Madoff is responsible for one of the largest financial frauds in American history. One of the men responsible for the take down, has a tie to Erie.

Harry Markopolos, graduated from Cathedral Prep in the 70s and began his career on Wall Street a decade later. Nine years of his career were spent investigating, and eventually bringing to light, one of the largest Ponzi schemes in our nation's history.

It was during his work with a management firm in Boston, that Markopolos noticed Madoff's numbers didn't exist, and that the money wasn't adding up.

That's when he dove deeper into the case. 

Soon, he said, it got too dangerous too quickly for himself and the three others on his team to stop the investigation.

They went to the Securities and Exchange Commission a few times, but said nothing every came of it.

While Markopolos said it took too long, and Madoff got too big, the Ponzi scheme operator did crumble, and was sentenced to 150 years in prison in 2009.

However, according to Markopolos, justice has yet to be fully served.

"There's five of Madoff's staff that are still on trial. It'll probably go on for another four month. I'll feel a lot better when that trial is over with. There are many other people that have not been brought to justice, only 13 people have been arrested, thousands were involved."

Markopolos has since written a book about his experiences with the case, and a movie is in the works.

He called the whole experience surreal, and never imagined all this would happen. He just wanted take down Madoff.

He'll be speaking at his Alma Mater Friday afternoon, before wrapping up this year's Global Summit at the Jefferson Educational Society at 7:30 P.M.

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