We've all heard how financial regulators ignored Harry Markopolos's warnings until Bernie Madoff's Ponzi scheme finally collapsed under its own weight. But until Tuesday, when federal and state prosecutors in Manhattan filed suits accusing Bank of New York Mellon of gouging banks and pension funds out of billions of dollars, we'd forgotten about another apparent Markopolos project: whistleblower litigation against BoNY and State Street Corp. over the way they handle foreign exchange trades.
Did Ignored Madoff Tipster Spark N.Y. Prosecutors' Suits Against Bank of New York Mellon over Forex Trades?
October 5, 2011
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