The SEC’s demand last week for Bernard Madoff to release a list of all assets managed and owned by his firm, the now well-known alleged Ponzi scheme attacked last month has finally been honored - the SEC, however, still is far away from determining where the embezzled funds disappeared to.

The asset list identifies at least one, and likely many, off-shore accounts in tax-haven type countries, where Madoff may have been hiding the money - analysts and officials suggest that other accounts have likely been left out of the declaration.

The detailed account included identification of all properties, homes, stock holdings, bank accounts and business interests Bernard Madoff personally, and his firm, Bernard Madoff Investment Securities held a stake in. The court-ordered accounting, demanded by the Securities and Exchange Commission, was deadlined at December 31st.

Madoff’s Ponzi-style scam has caused billions of dollars of damages to investors worldwide, both directly and indirectly in a seven-degrees-of-separation type monetary collapse.

Democrat Paul Kanjorski, Representative for PA, made a call to action for the courts to identify why the SEC did not identify the fraud sooner, and whether negligence or simple lack of funding was at fault for the recent lack of identification and prosecution in recent financial crimes.

Madoff is still under electronically tagged house arrest in his Manhattan home, awaiting progress in the court proceedings.

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