Staff Atty Says SEC Destroyed Files

Law360, New York (August 17, 2011, 8:14 PM EDT) -- A U.S. Securities and Exchange Commission attorney has accused the agency of destroying thousands of files related to preliminary investigations, including those into major Wall Street banks and Bernie Madoff's Ponzi scheme, according to a Wednesday letter from Sen. Charles Grassley, R-Iowa.

In a letter to SEC Chairwoman Mary Schapiro, Grassley said the SEC attorney, Darcy Flynn, sent him a letter alleging the destruction of 9,000 files pertaining to early investigations into securities and financial fraud at Goldman Sachs & Co., Deutsche Bank AG and Lehman...
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