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WASHINGTON — The Securities and Exchange Commission has acknowledged that some documents from preliminary investigations of major banks and convicted swindler Bernard Madoff likely were destroyed under a former agency policy.
The SEC’s enforcement chief made the disclosure in a letter Wednesday to Sen. Charles Grassley, R-Iowa. Grassley had asked about allegations by an SEC attorney that the agency illegally destroyed records related to thousands of preliminary probes, including investigations of Bank of America, Goldman Sachs, Wells Fargo and Madoff.
Denver Post staff and wire reports
