Senator, Congressman Probe SEC Counsel's Madoff Ties

Law360, New York (March 3, 2011, 8:27 PM EST) -- Two federal legislators requested more information Thursday from the U.S. Securities and Exchange Commission about a former SEC attorney facing a clawback suit from the Bernard L. Madoff bankruptcy trustee.

In a letter addressed to SEC Chairwoman Mary Schapiro, Rep. Darrell Issa, R-Calif., and Sen. Charles Grassley, R-Iowa, asked why former SEC general counsel David Becker had been allowed to participate in the agency's work on the Madoff bankruptcy despite having inherited roughly $2 million from his mother's Madoff accounts in 2004.

Becker, who said he...
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