Rep. Issa Subpoenas Madoff Trustee for Records

U.S. House Oversight Chairman Darrell Issa said Wednesday he has subpoenaed records from Bernard Madoff Trustee Irving Picard in his quest for more details about former Securities and Exchange Commission top lawyer David Becker's personal ties to the fraud.

Issa's committee is probing whether Becker should have recused himself from advising the SEC on Madoff matters because he had inherited money invested in a Madoff account. Picard is now suing Becker to try to recover $1.5 million in profits.

"Victims of the Madoff fraud swindle rightly feel cheated by the SEC's ineptitude," Issa said. "The decision to allow David Becker to work on the Madoff case, despite family earnings from a Madoff account, necessitates answers."