Posted Nov 04, 2011 06:17 pm CDT
A lawyer for former general counsel David M. Becker of the U.S. Securities and Exchange Commission says he has been told by Department of Justice prosecutors that they don’t plan to investigate his client, Bloomberg reports.
H. David Kotz, who serves as inspector general of the SEC, had called for the DOJ to conduct a criminal investigation concerning possible ethics violations related to Becker’s work developing a policy to liquidate the operations of the massive Ponzi scheme operated by Bernard Madoff under the guise of a hedge fund.
“We are gratified at the decision, and it’s consistent with our view that Mr. Becker did exactly what he was supposed to do under the circumstances,” his lawyer, William Baker III, told Bloomberg today.
ABAJournal.com: “DOJ to Mull Possible Criminal Probe of Former SEC General Counsel’s Role in Madoff Liquidation”
ABAJournal.com: “Former SEC General Counsel Defends His Madoff Work amid Conflict Questions”