SEC Counsel Says Madoff Ties Didn’t Warrant Recusal

Law360, New York (February 28, 2011, 7:20 PM EST) -- Former U.S. Securities and Exchange Commission general counsel David Becker never hid from SEC officials that he had inherited money that included securities invested with Ponzi schemer Bernard L. Madoff, Becker told leading House Republicans Friday.

Either soon before or soon after taking his job at the SEC in 2009, Becker told SEC Chairwoman Mary Schapiro and Ethics Counsel William Lenox that his mother’s estate — of which he was a co-executor in 2004 — had included roughly $2 million in investments with Bernard L. Madoff...
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