Victims of Madoff's fraud plan to return their huge- money-loss through court.
Investors Phyllis Molchatsky, a disabled retiree, and Dr. Steven Schneider, filed the lawsuit Wednesday in federal court in Manhattan.
Two investors who lost $2.4 million investing with failed financier Bernard Madoff have sued the U.S. Securities and Exchange Commission for their losses.
The lawsuit said the SEC had "countless opportunities to stop the Ponzi scheme Madoff operated over 16 years, and botched all of them." The lawsuit said the SEC directly caused the investors to lose their investment.
The SEC has faced criticism for not discovering the multibillion-dollar fraud since it was revealed last December, when Madoff was arrested. He is serving a 150-year prison sentence after pleading guilty.
SEC spokesman John Heine said Wednesday the SEC believes there is no merit to the complaint, according to the Associated Press' report.
Putin's official spokesman Dmitry Peskov commented on remarks in the US media about failures in launching nuclear-capable missiles in Russia
More than 5.8 million people voted for Nicholas Maduro at the presidential election in Venezuela. This is more than a quarter of registered voters. Why did those people vote for the man, who, as Western media write, took Venezuela to the brink of collapse?
It has long been understood that the West has been trying to subject Russian borders to total control. We have not seen such activity even during the Cold War