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Harry  Markopolos

Harry Markopolos

The Bernie Madoff Whistleblower

Harry Markopolos

The Bernie Madoff Whistleblower


Harry Markopolos received his B.A. in Business Administration from Loyola of Maryland and graduated from Boston College with a M.S. in Finance. He earned his Chartered Financial Analyst’s designation in 1996 and his Certified Fraud Examiner’s designation in 2008. From 2002-2003 he served as the President and CEO of the Boston Security Analysts Society. He has also served on the boards of directors of the Boston Chapter Global Association of Risk Professionals and Boston QWAFAFEW, a quantitative finance lecture group.

He was an assistant portfolio manager for Darien Capital Management in Greenwich, CT for three years; leaving to become an equity derivatives portfolio manager for Rampart Investment Management Company in Boston. In 2002 he was promoted to Chief Investment Officer but decided to leave the industry in August 2004 to pursue fraud investigations full-time against Fortune 500 companies in the financial services and healthcare industries. He brings CEO and CFO orchestrated multi-billion dollar white-collar fraud cases to the US Department of Justice and the Securities & Exchange Commission under whistleblower bounty programs. The Madoff case was his first major investigation, which he started in early 2000 and he’s been hooked ever since.  His investigations have led to several arrests and several billion dollar plus Ponzi schemes being put into receivership. He was also involved in detecting and stopping foreign exchange back-dating frauds committed by the U.S. custody banks, saving investors billions in forex transaction costs each year

Speaker Videos

Who Is Harry Markopolos?

On the Today Show

No One Would Listen

CNNMoney: From Madoff to Medical Fraud

Speech Topics

Your Industry & Fraud: What to Look for & How to Prevent It

Markopolos will impart lessons that had to be relearned by capital markets due-diligence professionals, accountants, and regulators who forgot them all during the boom years that left them unprepared for the Mortgage Backed Securities fiasco and Bernie Madoff. Every sector of the financial services industry failed during both scandals and, unbelievably, it turned out no one was doing the job they said they were doing.

Most due diligence is a set of check-the-box questions that fraudsters know how to respond to. If that weren't bad enough, control systems are static while fraudsters are constantly improving and thinking of ways to circumvent whatever safeguards you were smart enough to implement in the past. Tragically, the financial services industry is its own worst enemy, driven by foolish fads destined to end in disaster as bad money and loosening credit standards drive out good money and sound lending standards. Large financial institutions are not much different than lemmings in search of the next cliff to jump off of.  Big frauds are glaringly easy to spot if you simply ask "does this make any sense?" 

How Did One Man Lose $64.8 Billion? The Signs, the Red Flags & How to Make Sure It Never Happens Again

Markopolos will provide a riveting, behind the scenes presentation on how his four-person investigative team tracked Madoff and the Madoff Feeder Funds throughout Europe and North America over an eight and a half year timeframe – while repeatedly submitting detailed reports to the US SEC, which refused to listen. He will explain the red flags, warning signs, and the audit steps you need to know so this doesn't happen to your organization.

Developing and Acting Upon Healthy Professional Skepticism

How did the entire system of checks and balances fail for that many decades in the $65 billion Bernie Madoff Ponzi scheme? Banks, investment banks, hedge funds, pension funds, endowments, and regulators of all stripes failed to exhibit even a modicum of professional skepticism. Big 4, regional, and local accounting firms also failed to exhibit professional skepticism despite numerous red flags and unintelligible account statements. The multi-billion dollar Madoff firm’s auditor was a one-man accounting firm yet raised no suspicions. How did Madoff game the SEC exam and enforcement teams? How did the complicit feeder funds game their own audits? Where were the accountants at the so-called independent third party administrators? How does an audit team know it’s being played? How can auditors recognize they’re being manipulated and challenge their audit clients in order to protect themselves and stakeholders from blown audits and the resulting lawsuits? 

Obviously the accounting firms that did Madoff-related audits can’t talk because they’re enmeshed in pre-trial litigation, so hear from Harry Markopolos, the Madoff whistleblower, for his observations on how Madoff got away with his fraud scheme and fooled so many for so long. What he has to say will have you either crying or laughing or maybe even both at the same time.  

Chasing Bernie Madoff: Gift Wrapping & Delivering the Truth about the Largest Ponzi Scheme Ever

You Think Financial Fraud Is Bad? Taking a Hard Look at the $500 Billion Medicare Program