The Securities and Exchange Commission enforcement chief is out as the agency faces anger over its handling of the Bernie Madoff alleged Ponzi scam.
The SEC said Monday that Linda Thomsen, its director of enforcement, was leaving to return to the private sector.
There have been reports that newly appointed SEC Chairman Mary Schapiro was talking to ex-federal prosecutor Robert Khuzami about replacing Thomsen. Khuzami is currently Deutsche Bank’s chief counsel for the Americas.
Wall Street Journal: ‘SEC Gets Permanent Madoff Injunction’
The Securities and Exchange Commission said Monday it obtained a partial settlement that will impose a permanent injunction against Bernard Madoff in its civil complaint for his alleged role in a $50 billion Ponzi scheme.
The judgment, submitted to a New York federal judge, makes permanent a temporary injunction imposed on Mr. Madoff in December that froze his assets and restrained him from violating the antifraud provisions of securities laws.
Mr. Madoff did not admit any wrongdoing under this partial settlement, but under its terms, he won’t be able to challenge the allegations when it comes to determining fines and disgorgement.
Newsday: ‘Alleged Madoff victims include 2,000 Long Islanders’
Jewish Daily Forward: ‘Madoff’s Lawyer Not Part of “Madoff Diaspora,” After All’
N.Y. Post: ‘BERNIE’S GOT NOTHING ON FED LOOTERS’
Wall Street Journal: ‘Madoff Clients Exposed’