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Health & Fitness

Speak Up Guest - Former Director of Securities Regulation for the state of NH , Mark Connolly

Another inside perspective of what really happened with the FRM Scandal. Author of "Cover Up" Mark Connolly peals back another layer of the onion. Could it happen again?

The States that were victims of the FRM Scandal:

NH Maine Arizona California Virginia North Carolina Texas Georgia Idaho Michigan Massachusetts New York Conn. Oklahoma Rhode Island New Jersey Maryland Washington D.C. South Carolina Pennsylvania Florida Illinois California Washington State Hawaii Minnesota Tennessee Ohio Colorado Vermont.

“Cover-up” is a first-person account by Mark Connolly (former Director of Securities Regulation for the state of New Hampshire) of the behind-the-scenes maneuverings to manage the government’s political fallout of a Ponzi scheme (FRM) and its attempt to assign blame about the regulatory failures concerning the fraud.

The author’s story reveals a lack of oversight in financial regulation not only in New Hampshire but also the nation at large. The story is not about the fraud itself but its aftermath. The author says the FRM scam could have taken place anywhere in the United States, and he argues instances like FRM will continue to occur absent meaningful election reform. He observes consumer fraud cannot be entirely eliminated but the regulatory environment in which it exists can be greatly improved. 

“Cover-Up” begins with a foreword written by two FRM victims. They say neither the banking department nor the attorney general’s office would directly deal with them when they sought assistance from the state after they learned of the demise of FRM.  In an effort to perform due diligence prior to lending to FRM, some of these victims had previously contacted the banking department and inquired about any complaints filed against FRM; they claim they were never told about the extent of such FRM-related complaint activity in that department, which also was aware of repeated violations of state and federal laws by the company.

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Cover-Up” is endorsed by several individuals, including Harry Markopolos, whistle-blower of the Bernie Madoff Ponzi scheme and author of, “No One Would Listen,” an account of the tragedy. Both books can be purchased at www.Amazonbooks.com.

Watch the full Interview HERE



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