Seeking relief from SEC Seeking relief from SEC

New york. 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 New York, is seeking $1.7 million in damages from the agency. The claim is believed to be the first attempt by an investor to recover lost money from regulators.

New york. 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 New York, is seeking $1.7 million in damages from the agency. The claim is believed to be the first attempt by an investor to recover lost money from regulators.