From Reuters: Madoff investor seeks relief from SEC: report.
An investor who lost nearly $2 million investing with Bernard Madoff has filed a claim against the U.S. Securities and Exchange Commission (SEC) alleging the agency was negligent in failing to detect an alleged decades-long fraud, the Wall Street Journal said.
Phyllis Molchatsky, a 61-year-old retiree from Valley Cottage, New York, is seeking $1.7 million in damages from the agency, the paper said.
The claim is believed to be the first attempt by an investor to recover lost money from regulators, according to the paper.
Can we say throwing good money after bad?
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