This is not the first time Madoff office has been raided by SEC investigators, the recent raid being on 20th April 2005. They wanted to know if Madoff had hedge trade funds or executing hedge trade funds for others as he always claimed. Their investigation was after SEC staffers had found an email that expressed why Renaissance Technologies stopped doing business with Madoff. Initially, examiners claimed they were just on a normal routine examination of the brokerage firm’s books and records. On 20th May, the two examiners together with their supervisor interviewed Madoff, and they were convinced that he was not involved in the hedge trade funds business fraud.
In the summer of 2005, everybody in the hedge fund business seemed to do fine expect
In the summer of 2005, everybody in the hedge fund business seemed to do fine expect