SEC Gave Cash Award to Employee Who Bungled Madoff Investigation

``... in its most recent audit, the OIG found that "one of the key participants in both the 2005 examination and 2006 investigation of Madoff received a $1,200 cash award in April 2010." To make matters worse, the OIG found that the award was justified in part based on the employee's work in a follow-up investigation of Madoff. The OIG also raised concerns about the official who nominated the employee for the award''