The Former SEC General Counsel and Bernie Madoff Get Real Cozy, But Claim They Are “Just Friends”

According to Reuters.com, in a newly released report from the Securities and Exchange Commission Inspector General, former General Counsel David Becker had a conflict of interest regarding his work on the Bernie Madoff case. The IG report states that David Becker:

“…participated personally and substantially in particular matters in which he had a personal financial interest by virtue of his inheritance … and that the matters on which he advised could have directly impacted his financial position.”

It is a bit of a complicated and depressing situation, so I suggest reading the whole article.  Although READER DISCRETION IS ADVISED when you get to the part where SEC Chairman Mary Schapiro actually describes Mr. Becker as a “talented, highly skilled lawyer.”